Royal Dutch Shell

RANK19

In 2020, the Anglo-Dutch energy giant swung to a $21.7 billion loss, with noncash impairments of $28.1 billion. That drop pushed Shell from No. 5 to No. 19 this year, slipping below rival BP. The loss came on the heels of a pledge to transition its business away from fossil fuels in the coming decades, and target net zero by 2050. Since the start of the new year, rising oil prices have helped to swing the company back to quarterly profits. But in May 2021 it faced a new challenge, after a Dutch court ordered Shell to slash emissions even further.