ONGC climbs to 369th in Fortune 500

Agartala, Jul 17: Oil and Natural Gas Corporation Ltd (ONGC), has moved up 33 notches to 369th rank from 402nd last year, according to the CNN-Time Warner Group magazine 'Fortune'.

An ONGC statement here today said after making a debut in the turnover-based annual Fortune Global club two years ago with 459th rank, the Indian oil major has been moving up steadily.

The company's annual revenue in 2006 was USD 19,237.4 million, which was 15.8 per cent more than 2005.

Currenty, ONGC is ranked fifth in the Indian Fortunate brigade of six companies on basis of revenue and remains numero uno in terms of profit.

In Mining and Crude-Oil Production industry, it had been ranked sixth globally this year, up from ninth last year.

The other three parameters assessed by the Fortune magazine are 'Assets', 'Stockholders' Equity' and 'Employees'.

n Assets, ONGC had been ranked 335 (worth 25,359.5 million USD), third among the six Indian corporations listed the in Fortune magazine.

Besides, it had been ranked 196 in 'Stockholders Equity', with a figure of USD 15,348.8 million.

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

UNI