ONGC moves up 33 notches, ranks 369 in Fortune Global 500 list

The Oil and Natural Gas Corporation Ltd. (ONGC) has moved up 33 notches to 369, up from 402 last year, in the recently published 2007 edition of Fortune Global 500 list.

New Delhi, July 16 : The Oil and Natural Gas Corporation Ltd. (ONGC) has moved up 33 notches to 369, up from 402 last year, in the recently published 2007 edition of Fortune Global 500 list.

After making a debut in the turnover-based annual Fortune Global club two years ago (with a rank of 459), ONGC has been moving up steadily, thanks to its advancing topline during the last two years.

The annual revenue of ONGC considered for the current assessment (2006) is 19,237.4 million US Dollars, up 15.8 per cent from 2005. ONGC is 5th in the Indian Fortunate brigade of 6 companies, on Revenues.

In profits, however, ONGC (3929.2 million US Dollars, up 12.9 per cent) maintains its top rank from India, with comfortable margins. Overall, ONGC is ranked 121st in Profits this year; it was ranked 115th last year.

In the mining and crude oil production industry, ONGC has been ranked sixth globally in this current 2007 rankings, up from ninth last year.

The other three parameters assessed by the CNN-Time Warner Group magazine Fortune, are 'Assets', 'Stockholders' Equity' and 'Employees'.

In 'Assets', ONGC has been ranked 335 (with Assets worth 25,359.5 million US Dollars), third among the 6 Indian corporations listed in Fortune. It has been ranked 196 (a close second in India) in 'Stockholders' Equity', with a figure of 15,348.8 million US Dollars.

With employee strength of 34,807 in 2006, ONGC has been placed at 366 under 'Employees', fourth among Indian entries in Fortune.

Reacting to the ONGC's position in the Fortune Club, R S Sharma, Chairman and Managing Director, ONGC Group of Companies, expressed deep appreciation of the contribution of employees, and said that this trend of moving upward for the last two years is likely to continue, as certain projects which are in various stages of implementation will yield results in the coming years.

ANI