"Continuing high crude oil prices helped the company to improve its share valuation (7.6 per cent) and climb up to the 24th rank (as on December 31, 2004) in the PFC Energy 50 ranking," ONGC said.
ONGC was previously ranked 30th on the PFC Energy 50. PFC is an energy consulting firm specialising in the financial, strategic, commercial, political aspects of the international oil, gas and power industry.
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ONGC joins the exclusive club of ExxonMobil, British Petroleum, Royal Dutch/Shell, Total and ChevronTexaco, the best among oil and gas companies in the world.
The company's rank had fallen to 30 from 19 earlier (in March 31, 2004 ranking), mainly due the stock's temporary reactions to external developments post-election in April-May 2004.
ONGC with market cap of $ 26.9 billion remains the only oil and gas company in India in the PFC-50 Energy. PFC Energy was established in 1984 and is one of the pre-eminent strategic advisory firms in global energy.
Combining a detailed knowledge and understanding of markets, countries and competition, PFC Energy is recognised in the global energy industry for the in depth analysis and ranking.
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