Oil and Gas Industry In India

The oil and gas industry in India is one of the fastest-growing industries in India. According to a recent report, oil production grew by 22% from 2007-2012, while natural gas production grew at an annual average rate of 14%. The oil and gas industry provides a lot of opportunities for investors and companies looking to enter this market, which is still largely untapped.

There are also plenty of oil and gas companies in India, with many more being established every year. In this post, we will look at some top oil and gas companies operating out of India today.

Oil and Gas Industry In India

Oil and Gas Industry In India
Oil and Gas Industry In India

The oil and gas industry in India is a major contributor to the Indian economy. The oil and gas sector accounts for about 50% of India’s total downstream petroleum product consumption, which constitutes 30 percent of its GDP.

It also employs over one million people. Domestic companies invest heavily in oil exploration activities with an eye on emerging shale gas potentials and offshore oil fields near Sri Lanka, Bangladesh, and Myanmar. In addition, there are many international oil giants such as Chevron Corporation, ExxonMobil Corporation that have established their operations in this country with an investment worth several billion dollars.

Top Ten Oil and Gas Companies in India

When you search on Google, you find a list of oil and gas companies in India. But all the lists are not updated.

Here are the top ten oil and gas companies in India 2022:

1.Indian Oil Corporation- Top Oil and Gas Companies in India

Industry: Oil and Gas

Employees: 33,498 (2020)

Founded: June 30, 1959

Revenue Per Year (USD): US$68 billion, 2020 

Location: Mumbai, India

Website: https://iocl.com/

Indian oil corporation is the biggest oil company in India. It is a public oil company. Indian oil corporation was founded in 1959 and headquartered in Mumbai, India. In 2020 it had 33,498 employees and revenue per year US$68 billion.

Indian oil corporations provide fuels like petrol, diesel to other industries of the country.

2020 Total reserves, as per their latest report, are 2727 million barrels which makes them have the second-highest crude oil reserve after Saudi Arabia (30062). The group has a refining capacity of 1551000 bpd. They have 12 oil refineries in India, for example, the one near Mumbai, where the groundbreaking ceremony took place in January 2019.

  1. OIL AND NATURAL GAS CORPORATION LIMITED-Petroleum Companies in India

Industry: Oil and Gas

Employees: 20,723

Founded: August 14, 1956

Revenue Per Year (USD): $55.05 billion

Location: New Delhi​, India

Website: http://www.ongcindia.com/

OIL AND NATURAL GAS CORPORATION LIMITED (ONGC) is an oil and gas company in India. The group’s oil production averages 11,000 barrels per day with a total oil reserve of 282 million barrels as of December 31, 2018.

The corporation also has natural gas reserves of 24 trillion cubic meters with current capacity utilization of 78%. India’s Oil and Natural Gas Corporation (ONGC) sells petrol, diesel, etc., through distributorships all over the country. They also import petroleum products such as liquefied petroleum gases from countries like Singapore and Kuwait.

3.GAIL (INDIA) LIMITED- Top Oil and Gas Companies in India

Industry: Oil & Gas Exploration & Production

Employees: 9,231

Founded: August 1984

Revenue Per Year (USD): $10.04 billion USD

Location: New Delhi​, India

Website: http://www.gailonline.com/

GAIL (INDIA) LIMITED is one of the oil and gas companies in India. The Company operates on natural gas exploration, production, distribution to customers through its network in the North-Eastern region. GAIL (INDIA) Limited has a total oil reserve of 35 billion cubic meters and deposits for coal bed methane that can be exploited commercially when needed.

The Company was incorporated with an investment from the Indian Government’s Urban Development Ministry at 1983-84 after acquisition by ONGC Ltd., Oil Industry Consultants and Engineers Pvt. Ltd., Gas Authority of India Limited, International Finance Corporation, and Industrial Credit & Investment Corporation of India based on equity contribution agreement signed between them during 1982-83 financial year.

  1. Bharat Petroleum- Best Petroleum Companies in India

Industry: Oil and Gas

Employees: 81,233 (2020)

Founded: 1952

Revenue Per Year (USD): US$64 billion (2022)

Location: Mumbai, Maharashtra, India

Website: http://www.bharatpetroleum.com/

Bharat Petroleum is a public oil company in India. It was incorporated on November 15, 1954, as a joint venture between the Indian Government and Royal Dutch Shell group with an equal shareholding. The oil exploration division is operated by Bharat Petroleum Exploration & Production Company Limited (BPEPCL).

BP sells petroleum products to customers in more than 150 towns across India through its retail outlets under brand names such as “HP” and “BRITTON.”

Apart from the oil business, it also has an interest in natural gas production, refining, and marketing, a petrochemical sector which are all performed by different entities affiliated with them. In addition, some subsidiaries deal in lubricants for industrial purposes, fertilizers like urea, etc.

  1. Reliance Petroleum Limited- Oil and Gas Companies in India

Industry: Petroleum, Natural Gas

Founded: 2008

Revenue Per Year (USD): US$6.2 billion

Location: Ahmedabad, Gujarat, India

Website: http://reliancepetroleum.com/

Reliance Petroleum Limited, one of India’s most recent oil and gas companies, is listed as one of the top oil and gas companies in India. It was founded in January 2008 as a subsidiary of Reliance Industries Limited (RIL).

The Company’s head office is located in Ahmedabad, Gujarat, India. They are engaged in the exploration, production, refining, and marketing oil business while also producing natural gas for domestic use. The refinery has a capacity of processing 15 million barrels per day. It is the second-largest private sector oil refinery after Essar Oil Refinery Ltd., another top company in India.

It operates out of 18 locations across India through its retail outlets under brand names such as “HP” and “BRITTON.”

  1. FROST INFRASTRUCTURE AND ENERGY LIMITED

Industry: Oil and Gas

Founded: 2009

Location: Kanpur​, India

Website: http://www.frostinternational.in/

Among the 10 top oil and gas companies in India, FROST INFRASTRUCTURE AND ENERGY LIMITED are leading players. Frost Infrastructure & Energy Limited is a company that provides oil and gas infrastructure. Frost International Ltd., the parent company, was established in the United Kingdom back in 1995 to enable oilfield equipment manufacturers to access India’s oil industry.

The Company has been servicing for more than two decades now by offering oilfield products and services to North America, Europe, and the Asia Pacific regions.

Frost International Ltd registered its office at Kanpur followed by establishing an operation unit of FROST INFRASTRUCTURE AND ENERGY LIMITED in the same city.

  1. Essar Oil Limited- oil and gas companies in Mumbai

Industry: Oil and Gas

Employees: 7,000+

Founded: 1969

Revenue Per Year (USD): 14 billion USD (2020)

Location: Mumbai, India

Website: https://www.essar.com/

Essar Oil Limited was established in 1969 as a joint venture between the Indian Government and Standard Oil Company of Ohio. The Company is now one of India’s leading oil, gas, and petrochemicals producers, with an annual production capacity of 2600 thousand barrels per day (bpd), with assets such as oil refineries and natural gas processing facilities, power plants, etc.

The Company operates five oil refining complexes across Mumbai; its refinery at Vadinar near Jamnagar produces about 50% of the country’s diesel requirement. Essar Oil also exports products from these factories to over 30 countries every single year due to their high-quality standards, making them globally competitive.

8.GSPC PIPAVAV POWER COMPANY LIMITED- Oil and Gas Companies in India

Industry: Oil & Gas Exploration & Production 

Founded: 2006

Revenue Per Year: 630.44 Crs

Location: Gujarat, India

GSPC PIPAVAV POWER COMPANY LIMITED is an oil and gas company based in Gujarat, India. It engages in the exploration and production of natural gas and oil. The Company operates five oil refining complexes across Mumbai; its refinery at Vadinar near Jamnagar produces about 50% of the country’s diesel requirement. GSPC Pipavav Power Company Limited exports products to 30 countries every year. They have high-quality standards and are globally competitive.

The Company has an annual production capacity of 2600 thousand barrels per day (bpd), with assets such as oil refineries, natural gas processing facilities, power plants, etc. Its customers are mostly government agencies or public sector oil companies.

9.Hindustan Petroleum- Oil and Gas Companies in Mumbai

Industry: Oil and Gas 

Employees: 10,352 (2020)

Founded: 1974 

Revenue Per Year (USD): US$430 million (2020

Location: Mumbai, Maharashtra, India

Website: http://www.hindustanpetroleum.com/

Hindustan Petroleum is an oil and gas company in Mumbai. The Company has been around for over 40 years, founded on July 27, 1974, by the Indian government as a national oil corporation owned 100% by the state of India.

Hindustan Petroleum is a company that provides fuel to transport people and goods from one place to another. They also provide services for oil exploration, which helps find resources like oil which are important for many things, including energy production and manufacturing equipment used in different industries throughout the world.

The Company also provides oil refining services where crude oil can be turned into other fuel types like gasoline and diesel. The Company does this in partnership with its subsidiaries and partners-IESL Limited, IOCL, and HPCL.

10.Oil India- Petroleum Companies in India

Industry: Oil and Gas

Employees: 7,097 (March 2019)

Founded: 18 February 1959

Revenue Per Year (USD): US$1.7 billion (2020

Location: Noida (headquarters)

Website: http://www.oil-india.com/

Oil India is a company in India. They produce oil and other minerals. They focus on developing Indian energy sources instead of buying them for the nation’s economic growth aspirations to be self-sufficient. The Company has been working to find and take advantage of hydrocarbons. The Company is looking along the east coast from West Bengal to Bangladesh and on India’s west coast in Maharashtra.

Conclusion:

Above, we discussed the top ten oil and gas companies in India, including their established date, how they work, and their products. I hope you find this article helpful.