Reliance Industries Ltd has jumped five notches to take the third spot among the world’s biggest energy companies in Platts’ latest rankings.
State-owned firm Indian Oil Corporation broke into the top 10 and was ranked seventh in the list – rising from 66th in 2015 and 14th in 2016.
The Mukesh Ambani-led RIL is behind Russian gas firm Gazprom and Germal utility E.ON in Platts Top 250 Global Energy Company Rankings.
The Oil and Natural Gas Corporation was placed 11th this year, gaining nine positions since last year. Coal India Ltd, the world’s largest coal producer, was the only Indian company to have slipped in the ranking this year – to 45 from 38 in 2016.
“While 14 Indian energy companies made it to the S&P Global Platts Top 250 Global Energy Company Rankings, they were one short of the tally held last year,” Platts said in a statement.
Platts also said that India’s oil and gas sector may face some short-term pain from the new Goods and Services Tax, but a likely boost in economic activity may spur demand.
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