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ONGC now Asia’s top oil firm New Delhi November 3 In the rankings, that rated world’s leading oil and gas, power and coal firms, ONGC climbed to 18th slot from 26th position in 2009 rankings. Besides, ONGC (Oil and Natural Gas Corporation), Reliance Industries Limited (RIL), National Thermal Power Corporation (NTPC) and Gas Authority of India Limited (GAIL) have been ranked as the number 1 companies in Asia in their respective industries. The Platts 2010 rankings recognise the 2009 financial performance of publicly held energy companies based on a combination of assets, revenues, profits and return on invested capital. Platts also unveiled its annual list of the world’s 50 fastest growing energy companies based on their three-year compound growth rate (CGR). According to a Platts statement, Tata Power Company, India’s largest integrated private power firm, was placed 10th on the list of fastest growing energy companies in the world with a 39.7% three-year CGR. The global list headed by ExxonMobil Corp of the US, had Mukesh Ambani-run Reliance Industries at the 13th position, Platts said. Reliance had assets of USD 55.94 billion and revenues of USD 43.63 billion. It had a profit of USD 5.24 billion. Embattled British energy giant BP Plc was placed second, ahead of Gazprom OAO of Russia, Petrobras Brasileiro of Brazil, Total SA of France, E.On AG of Germany, Petrochina Co, China Petroleum, Chevron Corp of US and Royal Dutch Shell. Platts ranked Reliance Industries as the top oil refining and marketing company in Asia while state-owned GAIL India was ranked No.1 company among gas utilities while NTPC was the top ranked IPP. Indian Oil Corp (IOC) was placed third in Asia's refining and marketing company ranking, Bharat Petroleum fifth and Hindustan Petroleum stood at 19th position. Tata Power, with a compounded growth rate of 39.7 per cent over three years, was ranked fourth fastest growing Asian company. Reliance Infrastructure, with 28.4 per cent growth rate, was sixth on the list, headed by China Resources Power Holdings that had clocked 50.5 per cent growth in the three-year period. PowerGrid was eighth on the list while Reliance Industries was at 11th position, GAIL at 17th and IOC at 19th.Platts said if BP or one of the other western majors were to fall out of the top ten, who might take its spot? “India’s Reliance Industries Ltd, which this year rose to 13th in the rankings from 25th last year, may be a good candidate. It has substantially increased its asset base from $37.18 billion to $55.93 billion last year and increased revenues on the back of that by almost 50%. Profitability, however, remains low in relation to its asset base and revenues. Regulated prices in the company’s domestic market may hold Reliance back”. The Asian top 10 remains dominated by Chinese and Indian companies. PetroChina Co Ltd retains the top spot while the China Petroleum & Chemical Corp comes in second, ousting CNOOC Ltd, which falls to sixth place. India’s Reliance Industries Ltd moved from fourth to third, while India’s Oil and Natural Gas Corp Ltd rises from fifth to fourth. Two companies have moved out of the Asian top ten: the India Oil Corp Ltd, which may reflect late financial reporting of its 2009 results, and Japan’s Tonen General Sekiyu Corp, which fell from ninth in the regional Asian rankings to 57.
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