BUSINESS – CNPC ranked 4th richest firm in the world

China National Petroleum Corporation (CNPC), which backs the Shwe gas and oil pipelines from the Bay of Bengal to Yunnan, has been named the fourth largest company in the world in the Fortune Global 500 list for 2014. CNPC’s annual revenue is reported as US$432.01 billion, narrowly behind another state-owned Chinese oil and gas producer, Sinopec. US retailer Walmart is listed as the richest firm worldwide ($476.3 billion) with Royal Dutch Shell second.