20 of 20
Rank: 63
Profits ($millions): $13,138
Change from 2006: 2.4%

Brazilian state-run oil company Petrobras did not see big earnings growth in 2007. The country's strengthening currency eroded soaring dollar profits, which were fed by record oil prices. Delays in bringing new rigs online also tempered growth.

Petrobras has not raised domestic gasoline prices for several years but the company has announced two huge offshore oil finds, including the November 2007 discovery of the ultra-deep Tupi Atlantic Ocean field, which holds as much as 8 billion barrels of light crude, and the Jupiter natural gas reserve off the Rio de Janeiro coast. These should boost Petrobras' revenues and earnings.

More galleries
Last updated July 09 2008: 8:24 AM ET
Top 25 Once again, Wal-Mart grabs the No. 1 spot. See which other companies are the largest on the planet. (more)
20 money losers Even giants like General Motors and Merrill Lynch had a rough time in 2007. Here are 20 companies that finished the year in the red. (more)
Which industries rule? The banking industry saw the biggest sales increase, while the airline business saw the biggest jump in profits, with earnings surging 118%. (more)