IndianOil has steadily improved its rank over last year’s 98th position to the 83rd rank, climbing 15 notches in the Fortune Global 500 listings for the year 2012. With annual revenue of $ 86,016 million, IndianOil is the country’s highest ranked company in the listings and is tailed by Reliance Industries, State Bank of India, Bharat Petroleum, Hindustan Petroleum, ONGC, Tata Motors and Tata Steel.

Fortune's Global List of world's 500 largest companies for 2012, compiled on the basis of latest annual revenue figures, is topped by Royal Dutch Shell ending retail giant Wal-Mart Stores's two-year winning streak.