Reliance Industries surpasses ONGC to become top-ranked Indian energy firm

Reliance Industries Ltd (RIL) has toppled state-owned firm Oil and Natural Gas Corp (ONGC) to become the top Indian firm in a global ranking of energy companies. Billionaire Mukesh Ambani-led Reliance Industries climbed eight positions to grab the 19th place on the Platts Top 250 Global Energy Company Rankings for 2013.

ONGC held on its 22nd ranking, the position it had in 2012, while RIL improved from its 27th rank at that time.

This year's list is topped by Exxon Mobil Corp, with Chevron Corp at the second place.

The US giants are followed by Royal Dutch Shell and Russia's Gazprom, Statoil of Norway, Total of France and Lukoil of Russia. Chinese firm PetroChina has made entry at number 8, while UK's BP Plc is ranked 11th.

The Platts Top 250 Global Energy Company Rankings, now in its 12th year, is based on data compiled and maintained by S&P Capital IQ, which, like Platts, is a part of The McGraw-Hill Companies.

The 2013 rankings reflect fiscal 2012 financial performance in four key areas: asset value, revenue, profit and return on invested capital (ROIC).

Coal India improved its position from 48th to 43rd, while power utility NTPC went to 49th rank from 62 in 2012.

Oil refining and marketing company Indian Oil Corp improved two positions to rank at No. 80 while gas utility GAIL India moved up four notches to 105. Cairn India, which held the 121st position, moved up to 109 this year.

Bharat Petroleum Corp leaped to 119th position from 178 in the 2012 listing. Other Indian firms featuring in the 250 listing include Power Grid Corp (ranked 139), Reliance Infrastructure (163), Hindustan Petroleum Corp (177), NHPC (197) and Essar Energy (229th position).