On 25 September 2017, Energy major Oil and Natural Gas Corporation  has been ranked 11th and number one E&P company in the coveted Platts Top 250 Global Energy  Company Rankings 2017. Russia’s Gazprom end American giant Exxon Mobil’s  12-year still reign at No.1.

Significantly, 10 of the  14 Indian energy companies that made it to the S&P list this year improved  their rankings.

Revenues of the top 10  companies surged more than 30 percent to $1.1 trillion from $830.2 billion in  the 2016 rankings. These companies posted combined profits of $63.7 billion  last year, 14 per cent lower than the $74.3 billion posted the year before. The  top 250 profit figures are adjusted for preferred dividends and exclude discontinued  operations and extraordinary operations.

Commodity price  volatility, geopolitical shifts and industry consolidation made investors seek  out safe havens in 2016 in the form of strong returns on invested capital,  long-term fixed fees, regulatory stability, and access to regional and world  markets,” Harry Weber, senior natural gas writer of S&P Global Platts, was  quoted in the release as saying. “That helps explain why utilities and  pipelines were able to differentiate themselves from other sectors, even as  some operators struggled to boost revenue and underwent major transformations  that included operational and management changes.”

Being recognized with a  ranking in the Platts Top 250 is an accomplishment of prestige and honour in  the energy industry. To attain the most comprehensive assessment of energy  companies' financial performance, four key metrics are used: asset worth,  revenues, profits and return on invested capital. In addition to ranking the  top energy companies overall performance, Platts also distinguishes best  performance in nine industry subcategories and three global regions. And the fundamental and market data is  extracted from a database compiled and maintained by S&P Capital IQ.

Inspite of the profits of  Maharatna Company sliding down sue to crude oil prices, it still managed to  rise from 20th to 11th rank in Platts, which shows  considerable improvement in other factors namely asset worth, revenues and  return on invested capital. And Refiners  continuous efforts to strengthen their standings in the 2017 roster, buoyed by  improved margins.

India's strong  representation in the Platts Energy Rankings is a reflection of the growing  Asian dominance in the global energy market where much of the energy demand is  predicted to come from in the coming years.