**OT** Four Indian Pete Cos In Goldman's Top 5 Asian Oil Co List
Thursday, February 10 1:05 PM SGT
SINGAPORE (Dow Jones)--Four Indian oil companies feature in the top five petroleum companies in Asia ranked by Goldman Sachs Group Inc. (GS) on the basis of current market capitalization, Reliance Petroleum Co. (P.RPT) said in a press release Thursday.
Reliance Petroleum tops the list, Indian Oil Corp. (P.IOL) is second and Hindustan Petroleum Corp. Ltd. (P.HPE) and Bharat Petroleum Corp. Ltd. (P.BPE) are fourth and fifth in the rankings respectively.
High valuations for the Indian refining sector is owing to attractive growth opportunities offered by the country's rapidly growing domestic market for petroleum products, the release stated.
Growth in the petroleum sector in India, at 7%-8% a year, is among the fastest in the world, it said.
The top 11 Asian oil companies ranked according to market capitalization by Goldman Sachs are given below:
Rank Refiners Country Mkt Cap
(in million $)
1 Reliance Pete India 6,626
2 Indian Oil India 4,590
3 S K Corp.(Q.SKP) S.Korea 2,669
4 Hindustan Pete India 1,407
5 Bharat Pete India 1,272
6 Ssangyong Oil(Q.SOR) S.Korea 999
7 Zhenhai Refining China 386
8 Shell Refining Singapore 369
9 Singapore Pete(SPCS.SI)Singapore 295
10 Esso Malaysia (P.EMB)Malaysia 212
11 Bangchak Pete (H.BCK)Thailand 138
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