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Reliance Industries Enters Top Three Global Energy Companies

State-owned Indian Oil Corp (IOC) broke into the top 10 club, climbing to 7th position in the 2017 ranking, up from 14th rank in 2016

Photo Credit : Reuters

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Reliance Industries has jumped five places to rank as the world’s third-biggest energy company behind Russian gas firm Gazrpom and German utility EON, according to Platts Top 250 global energy company rankings.

State-owned Indian Oil Corp (IOC) broke into the top 10 club, climbing to 7th position in the 2017 ranking, up from 14th rank in 2016. IOC has been steadily climbing the rankings — it was placed at No. 66 in 2015.

Oil and Natural Gas Corp (ONGC) was placed at 11th position in 2017 as against 20th in 2016.

“While 14 Indian energy companies made it to the S&P Global Platts Top 250 Global Energy Company Rankings, they were one short of the tally held last year,” Platts said. Reliance was ranked at 7th position in last year.

Coal India, the world’s largest coal producer, was the only Indian firm to have slipped in the ranking — 45 in 2017, down from 38 in last year.

(PTI)