ONGC jumps 37 places to rank 160 in Fortune Global 500 list
Dated : 24 July 2019 12:38:20 PM
In a major reinforcement of its global presence, Oil and Natural Gas Corporation Limited (ONGC) has jumped 37 notches to secure the 160th position at the 2019 Fortune Global 500 list. Last year the energy maharatna was at 197 at the Fortune list. This is the best Fortune ranking till date for ONGC.
ONGC is ranked third in the Indian Fortune club, after Reliance Industries Limited (RIL) and Indian Oil Corporation (IOC).
Fortune ranking is based on turnover (revenues). The total revenue of ONGC for the year is $61420.40 – a sharp increase of 19.9% from its previous year. It is commendable for an upstream energy company like ONGC to bag a turnover growth of 19.9% vis-à-vis that of downstream energy company IOC of 17.7% - a raise in revenue from $65.9 billion to $77.6 billion.
ONGC’s global ranking has been advancing in other platforms as well. According to the Forbes Global 2000 list of 2019, ONGC ranked at 220 with a total market capitalization worth $29.6 billion.
In the 2018 PLATTS 250 list, ONGC maintained its first position globally in the category “OIL and Gas Exploration and Production. It also secured overall ranking of 21 in the PLATTS 250 Global Companies ranking in 2018.