IndianOil yet again clinched the top slot amongst the seven Indian companies featured in the Fortune's 'Global 500' listing of the world's largest companies for 2008 released by the US business magazine, Fortune. All made possible by a 32000 - strong team of IndianOilPeople.
IndianOil is the top-ranked Indian company among both private and public sectors at 116th position in the worldwide list, topped by retail giant Wal-Mart. Reliance Industries Ltd. (RIL) at 206th position is ranked second after IndianOil among all the Indian companies and followed by Bharat Petroleum (287), Hindustan Petroleum (290), Tata Steel (315), ONGC (335), and State Bank of India (380).
IndianOil jumped 19 places from last year's ranking of 135 to 116, creating an enviable position for itself as one of the top-ranked Indian companies. It has also moved up two places among the world's largest petroleum companies to occupy the 18th place under the 'Petroleum Refining' category, whilst the other Indian companies like Reliance is placed at 23rd position, Bharat Petroleum at 28th and Hindustan Petroleum at 29th position.
IndianOil's leap forward in the oil & gas sector, with a well laid-out road map through vertical integration - upstream into oil exploration & production (E&P) and downstream into petrochemicals - and diversification into natural gas marketing, besides globalisation of its downstream operations, represents the growth of the Indian corporate sector as well, thus carving a niche for itself in the global arena.
For the past 14 years, the 'Global 500' has been the premier list of the world's largest companies. And 2008 is no exception except the bar has been set higher to make it to the list. It is one of the best snapshots of the business world today.
The current list shows fewer American businesses (153) in more than a decade and confirms the rising prominence of the emerging markets. Less than 10 years ago, India, Mexico, and Russia had only one company each on the 'Global 500' list. This year's list includes seven from the subcontinent and five firms each from Mexico and Russia.
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