Top Oil and Gas Companies in India

India. After the USA and China, is the third largest consumer of oil at the global level. Oil and gas are some of the most important sectors that work as the backbone of the Indian economy. Petroleum companies undoubtedly play an important role in the industrialisation. It is also one of the eight core industries whose contribution makes up a major part of the country’s economic growth. And as we all know, economic growth in India is heavily dependent on energy demand.  The energy demand is never going to decrease. Saying that we could easily predict that the top Oil and Gas Companies in India are going to continue in their path of expansion. And this makes their shares very interesting to investors.

Most of the oil and gas companies in India are under the Indian government i.e. they are public sector undertakings (PSUs). Let us learn more about the Top Oil and Gas Companies in India and their significance, operations and contribution to the Indian economy.

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Top Oil and Gas Companies in India

Below listed are the leading players among the Top Oil and Gas Companies in India. They are the drivers of economic growth and supply fuel, energy and raw materials for industries. They are also one of the sectors that provide a huge amount of employment opportunities in India. Let’s look at the list.

Indian Oil Corporation

Indian Oil Corporation (IOCL) is a PSU i.e. it works under the government of India’s Ministry of Petroleum and Natural Gas. It was founded in 1959 and its headquarters is in New Delhi. IOCL is in one of the largest categories among public corporations when they are ranked by revenue. It also occupies the 88^th position on the Fortune Global 500 list. Indian Oil Corporation (IOCL) operates and owns the largest and most extensive fuel station network in the country. The firm is involved in the entire value chain when it comes to hydrocarbons. This includes:

• Refining of petroleum products
• Pipeline transportation of said products
• Petroleum products marketing
• Production of natural gas as well as that of crude oil
• Exploration for new petroleum reserves

Indian Oil Corporation (IOCL) operates a large number of refineries, pipelines as well as fuel stations and hence ensures the efficient distribution of fuel in our country. The company also have a turnover rate of 28 billion dollars and employs around 35000 people. This firm also has branches in countries like Mauritius, UAE and Sri Lanka.

Oil India Limited

Oil India Limited was founded in 1959 with its headquarters in Noida and is owned by the Indian government. It is an important player in the oil and gas sector in our country. This company employs around 11k people and has a business turnover of over around 35 billion dollars. It is also one of the oil companies in India

Oil and Natural Gas Corporation

Oil and Natural Gas Corporation (ONGC) was founded in 1956 and has its headquarters in Vasant Kunj in New Delhi. It is a state-owned organisation under the government of India’s Ministry of Petroleum and Natural Gas. It is one of the largest oil companies in India and plays a significant role in ensuring the energy security of the country as well as in the exploration endeavours for new hydrocarbon resource sites. The firm is also a major employment provider employing around 33000+ people. The major products of the Oil and Natural Gas Corporation (ONGC) are petrochemicals, natural gas and petroleum products. This is one of the Top Oil and Gas Companies in India and stands at the 8^th position at the global level. It turns around 6.50 billion dollars annually. The firm helps in using the hydrocarbons found in the 26 sedimentary basins of our country. It also owns and operates pipelines around 11000 kilometres. ONGC is the largest among the Top Oil and Gas Companies in India which comes under the ownership of the government.

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Cairn India

Cairn Oil and Gas is a section of Vedanta Limited and is owned by Navin Aggarwal and Prachur Sah. It was founded in 2006 with its headquarters in Haryana. When looking at the list of the best oil and gas firms, with a turnover of at least 3400 million, it is ranked sixth. It produces the best gas, oil, and petroleum products for various Indian and international agencies. Its extraordinarily extensive business coverage helps it carve out a niche for itself. The company has about 2000 workers. The business has operations in South Africa, Sri Lanka, and India.

Bharat Petroleum

Bharat Petroleum is a Maharatna company. It was founded in 1952 and has its headquarters in Mumbai in Maharastra. The firm is state-owned and comes under the government of India’s Ministry of Petroleum and Natural Gas. It is the second largest among the Top Oil and Gas Companies in India. It owns and operates two largest refineries in the country located in Mumbai and Kochi. The other two refineries coming under Bharat Petroleum are the Rina refinery and the Numaligarh refinery. This company produces the finest quality of products including oil, gas and other petrochemicals. As we discussed earlier, Bharat Petroleum is a Public sector undertaking(PSU) and employs around 14000+ people. The turnover of this huge refinery is around 40 billion dollars. BPCL is deeply committed to sustainable development and social responsibility. To this end, the organization actively participates in a range of community welfare programs that support environmental conservation, healthcare, and education.

Gas Authority of India

Gas Authority of India or GIAL was founded in 1984 with its headquarters in New Delhi. Exploration, production, processing, transportation, distribution, and marketing of natural gas and its byproducts are among the main facets of GAIL’s business activities. The company manages an extensive network of natural gas pipelines that cover thousands of kilometres throughout India and enable the efficient and seamless delivery of natural gas to a range of customers.

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Reliance Petroleum

Reliance Petroleum is a private firm owned by Mukesh Ambani. It was founded in 2008 with its headquarters in Ahmedabad. Another branch is situated in Jamnagar. The largest petroleum refinery in the world Reliance Petroleum refinery is owned by Reliance Industry Limited. Mukesh Ambani is the managing director and chairman of this country. The company employs around 10k people. They carry out the production of oil, natural gas and other petrochemicals.

Chennai Petroleum Corporation Limited

Chennai Petroleum Corporation Limited (CPCL) was founded in 1965 and has its headquarters in Chennai.  Indian Oil Corporation Limited (IOCL), the premier oil refining and marketing enterprise of the Indian government, is the parent business of CPCL. With a sizable refining capability, CPCL has a refinery in Manali, Chennai. A vast array of petroleum products, such as gasoline, diesel, liquefied petroleum gas (LPG), aviation turbine fuel, and other petrochemicals, are produced by the refinery from crude oil. The company has a competitive edge in meeting Southern India’s energy needs thanks to its advantageous location in Chennai. To supply the region’s fuel needs and promote local economic activity, CPCL is essential.

Hindustan Petroleum Corporation

Hindustan Petroleum Corporation was founded in 1974 with its headquarters in Maharashtra, Mumbai. It is owned Government of India under the Ministry of Petroleum and Natural Gas. It is placed 260th in the Fortune Global 500 rankings of the largest firms worldwide and fourth among Indian enterprises for the year. 51.11% of this top oil marketing organization is owned by the Indian government. This company belong to the Navaratna category and is said to be the best petrol company in India. A petroleum-based products unit under the Indian government that helps with product marketing and refining. In addition to having three refineries, it has a large network of LPG wholesalers and gas stations. With over 18,000 workers, the corporation generates $8 million in revenue annually. Among PSUs, it holds a strong marketing infrastructure and about 20% of the national market.

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Petronet LNG

Petronet LNG is an important player in the acquisition and regasification of liquefied natural gas (LNG) is the Indian business Petronet LNG Limited. GAIL (India) Limited, Indian Oil Corporation Limited (IOCL), Bharat Petroleum Corporation Limited (BPCL), and Oil & Natural Gas Corporation Limited (ONGC) are the four main public sector corporations that together ventured to form Petronet LNG in 1998.

The business runs LNG terminals in Kochi, Kerala, and Dahej, Gujarat. With a sizable capacity for regasification, the Dahej terminal is one of the biggest LNG import ports in the nation. Natural gas is now more easily accessible in the southern part of India thanks to the Kochi port.

Why is the Oil and Gas Sector Important for Job Seekers?

The financial news indicates that there is a high chance that there will be a lot of employment opportunities opening in the oil and gas sector in the coming years. Some of the reasons for these assumptions are given below.

• By 2045, it is expected that India’s oil consumption will have increased by two times, to 11 million barrels per day.
• By 2029–2030, diesel demand is predicted to quadruple to 163 MT, and by 2045, diesel and gasoline would account for 58% of India’s oil consumption.
• Up until 2024, India’s natural gas consumption is projected to increase by 25 billion cubic meters (BCM), or 9% annually on average.
• India wants to generate money to build more storage tanks and offset high oil prices by selling off 50% of its strategic petroleum reserves (SPR).
• To enhance its exploration activities in India, ONGC said in May 2022 that it would invest US$ 4 billion from FY22 to FY25.
• By 2028, Indian refiners would add 56 million tonnes annually (mtpa) to bring the country’s capacity to 310 mtpa.
• Foreign Direct Investment (FDI) in upstream and private sector refining projects is permitted at 100% by the government.

How to Get a Job in Top Oil and Gas Companies in India?

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List of Top Oil and Gas Companies in India

A list of the top oil and gas companies in India is provided below for your convenience.

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