ONGC beats CNOOC to become Asia’s No 1 oil firm

Singapore, Nov 3: India's Oil and Natural Gas Corporation (ONGC) has become Asia's top oil and gas production company, a latest release by Platts-energy and metals information provider claimed.

The Platts also ranked ONGC as the fastest growth company in Asia in the E&P sector. Where as, its rival company, China National Offshore Oil Corporation (CNOOC) slipped to 2nd position.

According to the rankings released by Platts, Indian Oil Corporation was placed 3rd, Bharat Petroleum on 5th and Hindustan Petroleum at 19th position, and where as Tata Power was ranked as 4th fastest growing Asian company.

Platts ranked Mukesh Ambani's Reliance Industries at the 13th position and also as the top oil refining and marketing company in Asia. GAIL India was ranked No 1 company among gas utilities.

Reliance Infrastructure, with 28.4 percent growth rate, was sixth on the list headed by China Resources Power Holdings that had clocked 50.5 percent growth in the three-year period.

OneIndia News