IOC, RIL, HPCL, BPCL among top 50 by revenue among Fortune Global 500
13 July 2007
New Delhi: IOC, RIL, HPCL, BPCL have been ranked among the top 50 by revenue among the 2007 Fortune Global 500 companies.
Of these Bharat Petroleum Corporation and Hindustan Petroleum Corporation have been included in the top 15 global firms that had the biggest increase in profits.
The two Indian oil marketing companies are ahead of big names like Hewlett-Packard, Alstom and Time Warner in ranking as their profits jumped by a huge 324.9 per cent and 262.1 per cent respectively in 2006, mainly due to the sale of oil bonds that figures under the revenue head.
The Fortune Global 500 list includes five Indian oil companies of which four are state-run entities with the lone private firm being corporate giant Reliance Industries.
Indian Oil,
BPCL, Reliance Industries and HPCL also figure among the top 39 petroleum
refining companies in the global 500 list. IOC is at 20th position with revenues
of $45,217 million, while Reliance Industries with $25,159 million is at ranked
26 and BPCL takes the 31st slot with $21,862 million for 2006.HPCL is at 33 with
revenues of $20,936 million.