Business Daily from THE HINDU group of publications
Tuesday, Jul 18, 2006
Business Daily from THE HINDU group of publications Tuesday, Jul 18, 2006 |
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Corporate
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Performance
Our Bureau
New Delhi , July 17 Oil and Natural Gas Corporation Ltd (ONGC) has moved up 52 points in 2006 Fortune Global 500 listing. The company is positioned 402 in the new Fortune tally, up from 454 last year. Its turnover considered by Fortune is $16,609 million, up 20.8 per cent from last time. The credit of ONGC moving up is all the more commendable as the turnover of the upstream company has been under pressure due to heavy subsidy pay-out for the last three years, a statement issued by the company said. On the profit platform, with a figure of $3,481.7 million (up 9 per cent), ONGC is ranked 115 in the new list - leading all the Indian corporates. The ranking in the Top-10 territory of the new list has brought the growth of the global oil industry in limelight. US oil major Exxon-Mobil has displaced Wal Mart - the Fortune-topper for the last few years. The consistent high crude prices have forced the US retail major slip to the second spot, paving the way for the US oil giant.
More Stories on : Performance | Petroleum | Awards & Honours | Oil & Natural Gas Corporation Ltd
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