Cairn India named world’s fastest growing energy company

Cairn India the parent company of Cairn Lanka - the company exploring in the Mannar basin, has been ranked the fastest growing oil and gas exploration firm in the world, even as heavyweights like ONGC and Reliance Industries slipped in a list of top-performing energy firms globally.

With a three-year compounded growth rate (CGR) of 116.5 per cent, Cairn was ranked by energy information provider Platts as the fastest growing E&P company in 2010.

Cairn India has also been named the fastest growing Asian company ahead of Reliance (ranked 18th in Asia) and state-owned GAIL India Ltd (ranked 20th) in the Platts Top 250 Global Energy Company Rankings.

Cairn India has made its maiden entry at 120th rank in the overall global energy company list, which was topped by US giant Exxon Mobil Corp. For the 2011 rankings, Platts ranked listed energy firms on the basis of their financial performance in 2010.