India is the third-largest oil consumer in the world, and the oil and gas industry is one of the key sectors that was instrumental in the country’s industrialization and served as the backbone of its economy.
The oil and gas industry expects a significant growth rate in the sector due to the rising demand for energy, which makes it a desirable investment option.
Most of the oil and gas companies in the country are Public Sector Undertakings (PSUs) organized by the Indian government.
List Of Top 10 Oil and Gas Companies in India:
1. Indian Oil Corporation
The largest oil company in India and one of the top oil marketing firms in the nation is the Indian Oil Corporation. Founded in 1959 and headquartered in New Delhi, Indian Oil Corporation operates the most extensive network of fuel stations all over India.
The company provides a variety of goods, such as petrochemicals, lubricants, and fuels. Indian Oil Corporation has a turnover of 28 billion dollars and employs over 35,000 people.
2. Oil and Natural Gas Corporation (ONGC)
The Oil and Natural Gas Corporation is one of the biggest oil companies in India. Founded in August 1956 and headquartered in Dehradun, ONGC is a government-owned company that provides employment opportunities for nearly 33,000+ applicants.
It produces petroleum, natural gas, and petrochemicals. ONGC secured eighth place globally, recording a significant turn of 6.50 billion dollars annually.
The company exploits hydrocarbons in 26 sedimentary basins of the country and operates over 11,000 kilometres of pipelines.
It is the largest among all the government undertakings in the oil and natural gas sector.
3. Bharat Petroleum Corporation Limited (BPCL)
The second-largest oil and gas company in India is Bharat Petroleum Corporation Limited, with its headquarters in Mumbai, Maharashtra.
The corporation operates two large refineries in the country located in Mumbai and Kochi. The company’s production involves the finest quality oil, gas, and petroleum products. It belongs to the public sector category with 14,000+ employees.
This massive refinery has a turnover of 40 billion dollars. It is also another undertaking of the government of India.
4. Reliance Petroleum
Reliance Petroleum Limited, one of the top petroleum companies in India, is located in Ahmedabad and Jamnagar. Reliance Petroleum refinery is currently the largest refinery in the world and is owned by Reliance Industries Limited.
It belongs to the government-owned sector, having employed more than 10,000 employees. It is into the production of oil, petrochemicals, and natural resources.
5. Hindustan Petroleum Corporation Limited (HPCL)
HPCL is a public sector company whose head office is located in Mumbai. It has been ranked 4th among India’s companies for the year and 260 in the Fortune Global 500 rankings of the world’s giant corporations.
The government of India owns 51.11% of this leading oil marketing company. This oil and gas company is Navratna. It is the best petrol company in India. PSU of the Indian government contributing to refining and marketing of petroleum-based products.
It has three refineries and an extensive network of petrol pumps and LPG distributors. The company has more than 18,000 employees and makes $8 million in annual revenue. It has a nearly 20% market share in the country among PSUs and a robust marketing infrastructure.
6. Oil India Limited
Oil India Limited is a public sector company based in Assam engaged in the exploration, production, and sale of crude oil, natural gas, and LPG.
It is one of the first oil companies in India, having been established in 1959, and is governed by the Ministry of Petroleum and Natural Gas of the Indian government.
It has a strong presence in the northeastern part of India and also has operations in other parts of the country. Oil India Limited has over 11,000 employees and had a revenue of around $4.7 billion in 2020.
7. Cairn India
Cairn India is a subsidiary of the Vedanta Group and is one of India’s top oil and gas companies. It is involved in the exploration, production, and sale of crude oil and natural gas and operates in India, Sri Lanka, and South Africa.
Cairn India has a workforce of around 2,000 employees and had a revenue of about $4.5 billion in 2020.
8. Essar Oil Limited
Essar Oil Limited is a private sector company headquartered in Mumbai and has a refinery in Vadinar, Gujarat. It is involved in exploring, producing, refining, and marketing oil and gas products.
Essar Oil Limited has over 75,000 employees and had a revenue of around $9 billion in 2020.
9. GAIL India Limited
GAIL India Limited is a public sector company engaged in producing, distributing, and marketing natural gas and petrochemicals.
It was founded in 1984 and is headquartered in New Delhi. GAIL India Limited has a workforce of over 4,500 employees and had a revenue of around $9.5 billion in 2020.
10. Petronet LNG Limited
Petronet LNG Limited is a public sector company engaged in importing and distributing liquefied natural gas.
It was founded in 1998 and is headquartered in New Delhi. Petronet LNG Limited has over 300 employees and had a revenue of around $4.4 billion in 2020.
Conclusion
India’s top oil and gas companies are essential to the country’s economy, as they are among the biggest contributors to the GDP.
The companies we discussed in this article are the most prominent players in the sector and are present across India and globally.
They have a large and capable workforce, and they are continuously working towards improving their operations to meet the country’s increasing need for oil and gas.
The sector is projected to grow in the future, which will create new opportunities for investment and job opportunities in India.