BP may be one of the most hated companies in the world, but it's also one of the most wildly profitable.
Fortune has released its most recent list of the world's most profitable companies and BP has placed fourth, pulling in a whopping $16.56 billion in profits in 2009. BP shares are heading toward their second straight weekly gain on news of progress on stopping the oil spill in the Gulf of Mexico, the AP notes.
Gazprom, the Russian gas conglomerate, took the top spot on Fortune's list with 24.55 billion in profit. Exxon Mobil took the second spot ($19.28 billion), and the Industrial & Commercial Bank of China and China's Construction bank ranked third and fifth, respectively.
Barclays, the U.K.-based bank, ranked seventh, beating out financial services rival Goldman Sachs by six spots. Goldman, however, saw profits increase by 476 percent from 2008 to 2009, the highest year-to-year increase in the top 20.
As the AP reports, BP stock has gained about $20 billion in lost value in recent days, but is still down approximately 45 percent since the gulf oil spill began on April 20.
But, BP's 2009's profit are sure to be vastly different from this year's. Do you think BP will make it onto next year's list of the world's most profitable companies?
Check out Fortune's full list here.