ONGC ascends by 32 ranks in the Fortune Global 500 Rankings of 2023

The Energy Maharatna, Oil and Natural Gas Corporation (ONGC), has demonstrated remarkable progress by advancing 32 positions to secure the 158th rank in the esteemed Fortune Global 500 rankings for the year 2023. This achievement stands in contrast to its placement at the 190th spot in the coveted list in 2022.

During the assessment period, Fortune took into account ONGC's revenue, which amounted to USD 78,746 million, marking a substantial increase from USD 65,962 million in the previous year—an impressive growth rate of 41.6 percent. Notably, ONGC achieved a selling price of USD 91.90 per barrel for domestically sold crude in FY'23, as opposed to USD 76.62 per barrel in FY'22. Additionally, ONGC has successfully reversed the declining trend in domestic crude oil production.

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