Rising in rank
New Delhi   18-Jul-2011

IndianOil has made a steep climb in the Fortune Global 500 ranking. The Indian refining major ranked 125th in the last year’s list but has now moved up to the 98th position. That is remarkable considering the company still has to bear the burden of petroleum subsidy. A complete deregulation of the petroleum sector would take the company high up the ladder. IOC chairman RS Butola would like to see the end of the petroleum subsidy. But will the government oblige?