Top 10 Oil Companies in India Driving the Energy Sector
The oil and gas industry of India is one of the most important backbones of the Indian economic system, being the industries performing industrialization of India, and energy supply to the population of more than 1.4 billion citizens of India. The oil companies in India have changed a lot in the last few decades as they have gone through the transformations of being a state controlled corporation to a vibrant corporation that has to compete in both national and international levels. The oil and gas companies in India pay jointly amount of billions of dollars to the national treasury besides making sure that the world most populous nation has energy security.
Its Indian petroleum sector includes crude oil drilling in the Arabian Sea as well as marketing of refined products even to villages which are inaccessible. Large Indian oil firms have been spending a lot of money to modernize their operations, adopt the latest technologies and increase their operations to wider parts of the globe. Oil companies have been able to diversify especially in India today where they are not only the energy providers, but equally important in the petrochemical industry, renewable energy and digital transformation projects.
Understanding India’s Oil and Gas Landscape
Contribution to GDP, Employment, and Exports
The contribution of the oil and gas industry to the economy of any country is much bigger than only distributing energy, which means that oil and gas companies in India are crucial assets in the progress of the state:
- GDP Contribution: Indian oil companies contribute a total of about 8-10 percent to the GDP of the country and this makes the industry one of the biggest industry nations in terms of contributing to the economy in terms of output.
- Employment Generation: Petroleum industry is a major employer directly a job of more that 1.5 million people is also generated through oil companies in India which create more indirect jobs in several allied industries.
- Export Revenue: In India, the major oil companies create enormous revenues in terms of foreign exchange and they also contribute to the export earning to the tune of more than 60 billion a year because of the export of petroleum products.
- Tax Revenue: Tax paid by oil and gas companies in India is one of the highest given that they contribute about 25 per cent of the total amount of indirect taxes (indirect tax is paid through excise duties).
Importance for Infrastructure, Transport, and Defense
One can speak about the strategic role of the oil and gas companies in India in such major industries:
- Infrastructure Development: Embarking in the development of pipeline infrastructural networks, oil companies have developed a sophisticated network of oil pipelines, refineries, and storage tanks that are the key sources of energy infrastructure in the country.
- Transportation Fuel Security: These corporations provide continuous petrol, diesel and aviation fuel supply and thus the smooth operations of road, rail and air transport systems in the entire country.
- Defense Preparedness: Indian oil companies have oil reserves; they provide special fuel used in the military and they work to enhance national security.
- Industrial Growth: Oil companies in India facilitate the realisation of industries and growth in manufacturing by supplying raw materials to the production of petrochemicals and fertilisers as well as other industries.
Top 10 Oil and Gas Companies in India: The Market Leaders (Public & Private)
1. Reliance Industries Limited (RIL)
- Founder: Dhirubhai Ambani
- Founded In: 1966
- Ratings: 4.2/5
- Website: https://www.ril.com
- Headquarters: Mumbai, Maharashtra
- 2025 Stats: Revenue growth of 12.5%
Reliance Industries Limited is the biggest company in the country that belongs to the private sector and is one of the biggest oil companies. Initially, RIL was established as a textile manufacturing company, but under the great vision of Dhirubhai Ambani it ended up becoming an oil-to-chemicals integrated giant. The firm runs the largest grass roots petroleum refinery complication in the world at Jamnagar, Gujarat with a total capacity of 1.4 million barrels per day. RIL has been diverse in telecommunication, retailing and renewable energy businesses and at the same time retain its status as a leading business in India Oil companies. The petrochemicals unit of the company manufactures versatile products like polymers, fibers as well as speciality chemicals to cater to domestic as well as international markets.
Key Services:
- Petroleum refining and petrochemicals production
- Oil and gas exploration and production
- Retail fuel stations and lubricants
- Petrochemical manufacturing and trading
- Renewable energy and green hydrogen initiatives
2. Oil and Natural Gas Corporation Limited (ONGC)
- Founder: Government of India
- Founded In: 1956
- Ratings: 4.0/5
- Website: https://www.ongcindia.com
- Headquarters: New Delhi
- 2025 Stats: Production growth of 8.3%
Oil and Natural Gas Corporation Limited is a national oil company and largest Indian oil firm in upstream oil companies which has honour of being the flagship national oil company of India. About 70 percent of total amount of the crude oil, 80 percent of natural gases in India are supplied by ONGC paving way to making it a very critical element in the energy security of India. The company is searching in such a broad geographical area, Mumbai High in the offshore and in the Assam basins on the ONSHORE which demonstrates the capability to exercise a high standard of technical competence when working in challenging areas.
Because it wants to go global, ONGC has been buying assets in oil fields across borders to undertake strategic acquisition of oilfields in different countries like Russia, Venezuela and Sudan among others. As one of the largest and most valuable oil companies in India, ONGC continues to make investments, deep water exploration, independent oil resources and enhanced oil recovery techniques so that it can get as much hydrocarbon as possible in the available fields.
Key Services:
- Crude oil and natural gas exploration and production
- Offshore and onshore drilling operations
- Enhanced oil recovery and field development
- International E&P ventures and acquisitions
- Petrochemical feedstock supply
3. Indian Oil Corporation Limited (IOCL)
- Founder: India government
- Founded In: 1959
- Ratings: 4.1/5
- Website: http://www.iocl.com
- Headquarters: New Delhi
- 2025 Stats: An increase of market share by 6.8%
Indian Oil Corporation Limited is the biggest business company and giant in the oil business amongst the companies present in the Indian oil downstream market. In petroleum sales sphere, IOCL boasts of a near 50 percent market share and, therefore, there is no thought of any such company being a likely competitor. This firm is the sole largest distributor and retailer of fuel. The company has 11 world wide refineries whose processing capacity covers a total of over 80 million metric tonnes per annum, both local oil and foreign one.
Among the leading oil and gas companies in India, IOCL also owns a few percentages of the distribution network which contributes to no less than 33,000 plus of the fuel stations, even the far most corners of India fall inside the market of such kind of fuel station distribution network. The company has experienced a digital revolution and the company has also introduced other services like digital payments, electric vehicle charging station, customer loyalty programme to enhance service delivery among the oil companies.
Key Services:
- Refining and production of petroleum goods
- Retailing of fuel with wide station network
- PG distribution and cylinders delivery services
- Lubricants and specialty products manufacturing
- Marketing and production of petrochemicals
4. Bharat Petroleum Corporation Limited (BPCL)
- Founder: India Government
- Founded In: 1952
- Ratings: 4.0/5.
- Website: https://www.bharatpetroleum.in/
- Headquarters: Mumbai, Maharashtra
- 2025 Stats: 9.2% increase in revenue
Bharat Petroleum Corporation Limited is one of the most successful oil companies, with a history of more than 70 years of company performance in the oil industry. BPCL has four large refineries situated in Mumbai, Kochi, Bina, and Numaligarh, and with them, a special capacity of refining over 38 million metric tonnes per annum. The company has put up a good distribution net with over 19,000 fueling stations in India, whereby millions of customers visit the company fueling stations daily. Liquefied consumer goods like aviation fuel, marine fuel, industrial lubricants, and gas cylinders are some of the products that have been undertaken by BPCL at their ports.
Among the prominent oil and gas companies in India, the company has further shown its interest in becoming innovative through investing in biofuels, electric mobility, and renewable energy projects, thereby earning the company the reputation of an innovative company within the oil companies in India.
Key Services:
- Manufacture of oil and oil products and petroleum products
- Retail marketing and distribution of fuel
- Supply of Aviation turbine fuel to airports
- PG supply and distribution network
- Manufacture of automotive and other lubricants, specialty chemicals
5. Hindustan Petroleum Corporation Limited (HPCL)
- Founder: India
- Founded In: 1974
- Ratings: 3.9/5
- Website: https://www.hindustanpetroleum.com
- Headquarters: Mumbai, Maharashtra
- 2025 Stats: 7.5% growth in the market
Among the Indian oil companies, Hindustan Petroleum Corporation Limited has emerged to be one of the major players because of its operations that are customer-centered and hence expanding year after year. HPCL operates three refineries located along the coast (one in the city of Mumbai and one at Visakhapatnam) and the Bathinda refinery with a total capacity of just over 25 million metric tonnes of crude per annum. The retail outlet of the company has about 19,500 fuel stations, which focus on the needs of various customer groups: personal drivers and big business fleets.
As one of the forward-looking oil and gas companies in India, it is also visible that HPCL has been doing good work in the field of providing alternative energy, which could be seen at the launch of electric vehicle charging infrastructures but even in hydrogen fuel cell technology through research and development. The attention of the corporation to digitalization and improvement of the customer experience is its peculiarity in comparison with the traditional oil companies in India.
Key Services:
- Refining of petroleum and making of products
- Wholesale and retailing of motor fuel and automotive lubricants
- Bulk sales and industrial supply of fuel
- Home delivery and gas cylinder delivery
- Alternative energy solutions and charging of electric vehicles
6. GAIL (India) Limited
- Founder: Government of India
- Founded In: 1984
- Ratings: 4.1/5
- Website: https://www.gailonline.com
- Headquarters: New Delhi
- 2025 Stats: 15.2 % pipeline expansion
GAIL (India) Limited is an Indian-headquartered, premier natural gas company that occupies a niche among the oil companies in the country since it focuses on the midstream natural gas business. The company owns the largest system of natural gas pipelines in India with over 12,000 kilometers of pipeline connecting most of the natural gas production centres and the consumption centres in India. GAIL refines natural gas in different plants, and through this process, natural gas produces LPG, natural gasoline, and other by-products which can be utilized in many industrial applications.
It has made an entry into petrochemicals manufacture, where they are producing polymers and chemicals in their integrated complexes. As one of the key oil and gas companies in India, the strategic investments that GAIL has undertaken on importation of LNG, city gas distribution, and renewable energy project commitments make it part of the energy transition agenda of India.
Key Services:
- Transportation and delivery of natural gas via pipeline Natural gas pipeline transportation and delivery
- Natural gas processing, etc.
- Manufacture and marketing of petrochemicals
- Liquefied Natural Gas Trading and regasification services
- Development of city gas distribution network
7. Oil India Limited (OIL)
- Founder: Government of India
- Founded In: 1959
- Ratings: 3.8/5
- Website: https://www.oil-india.com
- Headquarters: No.2, Sector 4, Noida, Uttar Pradesh
- 2025 Stats: 5% growth
Among the oil producers in India, Oil India Limited is ranked the second-largest upstream oil company in the country, and it is discovered that it has its major operations in the northeastern Indian states of Assam and Arunachal Pradesh. Even geographically speaking, OIL has had the ability to explore and develop hydrocarbon reserves profitably, given the fact that it has been in a position to operate on some of the most challenging terrains. This has seen it play a key role in contributing to the domestic production of crude oil and natural gas in India. The company operates mammoth terrestrial oilfields, and it is very recently that it has extended its operations to offshore exploration fields.
As one of the notable oil and gas companies in India, OIL has also branched out into the renewable energy sector, where it has taken up projects in the manufacture of solar and wind energy, which is in alignment with the sustainable energy plans of this nation of India. The expertise that the corporation has in the area of enhanced oil recovery technologies has enabled it to go to great extents by extracting as much as it can out of old fields while also exploiting new opportunities.
Key Services:
- Crude oil and natural gas prospection and production
- Field optimization and recovery of oil
- Drilling and over working services
- Construction of pipes and maintenance of the pipelines
- Development of an energy project
8. Petronet LNG Limited
- Founder: Joint venture of GAIL, ONGC, IOCL and BPCL
- Founded In: 1998
- Ratings: 4.2/5
- Website: https://www.petronetlng.in/
- Headquarters: New Delhi
- 2025 Stats: The increase of import capacity by 11.8%
Petronet LNG Limited is a very distinct form of a consortium structure of the oil companies in India and has been formed as a joint venture between two large corporate companies from the public sector. The firm inherits the biggest LNG regasification facility at Dahej, Gujarat, with a capacity of 17.5 million tonnes per annum, and also operates another terminal located in Kochi, in the state of Kerala.
Among the prominent oil and gas companies in India, Petronet LNG has played a very critical role in the diversification of Indian energy resources by sourcing natural gas from countries like Qatar, Australia, and the United States. The long-term supply contracts with global LNG operators have enabled the company to maintain energy security and offer affordable LNG to domestic buyers. Petronet’s expansion strategy is focused on acquiring more terminals and delivering small-scale LNG supplies to remote markets.
Key Services:
- Regasification and terminal services of propane
- Marketing and liquefied distribution of natural gas
- The LNG vessels and logistics management
- Liquefied natural gas remote posts in remote areas
- Gas pipeline transmission and infrastructure The pipeline relationship and facility of the gas
9. Cairn Oil & Gas
- Founder: Vedanta Limited
- Founded In: 2007 (as part of Vedanta Resources acquisition)
- Ratings: 4.0/5
- Website: https://www.cairnindia.com
- Headquarters: Gurugram, Haryana
- 2025 Stats: 11.2% YoY increase in crude oil production capacity
Cairn Oil & Gas, a vertical of Vedanta Limited, is one of the largest independent oil and gas exploration and production companies in India. It plays a critical role in contributing to India’s domestic crude oil output — accounting for nearly 25% of the country’s production. Cairn’s flagship Rajasthan block (Mangala, Bhagyam, and Aishwariya fields) is one of the largest onshore oil discoveries in India. The company also operates assets in Gujarat, Andhra Pradesh, and the Krishna-Godavari basin.
Among the notable oil and gas companies in India, Cairn is focused on cost-efficient, technology-driven exploration and production, while simultaneously investing in carbon reduction initiatives and renewables as part of its long-term sustainability goals.
Key Services:
- Onshore & offshore crude oil exploration
- Oil & gas production across Rajasthan, Gujarat, and East Coast
- Domestic crude oil supply to Indian refiners
- Advanced EOR (Enhanced Oil Recovery) and drilling technology
- Focus on low-carbon operations & energy transition
10. Nayara Energy Limited
- Founder: Essar Oil (now owned by Rosneft and others)
- Founded In: 1989
- Ratings: 3.9/5
- Website: http://www.nayaraenergy.com
- Headquarters: Mumbai, Maharashtra
- 2025 Stats: 12.3% of growth at the retail store network
Nayara Energy Limited used to be known as Essar Oil and is now included among the largest oil companies in India in the private sector after it was acquired by a consortium comprising of Rosneft (Russia) among others. It owns the second-largest refinery (single-location) at Vadinar in Gujarat which has the capacity of 20 million metric tonne/ annum. Nayara Energy has set up a multi-fuels retailing network of over 6,500 outlets in India that has been performing well in the market as compared to the public sector undertakings. The company has invested a lot in making its plants to be upgraded in order to produce BS-VI category fuel and be environment friendly. The Nayara Energy compatibility with the international supply chain and other high technology refining processes and technologies make it one of the largest oil corporations of the modern Indian scenario.
Key Services:
- Refining of oil and production of oil products
- High quality vehicle and mobile gasoline stations
- Petroleum products Export and trade of petroleum products
- Wholesale and distribution of industrial fuel
- Terminal and logistics services
Key Roles in the Indian Petroleum Sector: Upstream, Midstream & Downstream
Upstream (Exploration and Production)
TThe upstream industry has been the main sector of activity in the oil companies of India, it involves exploration and discovery, of the elements of hydrocarbons:
- Geological Surveys and Seismic Studies: The oil companies in India also conduct excellent geological surveying exploration under the assistance of modern seismic machines with the possibility of finding possible reserve of hydrocarbons beneath the surface of the earth.
- Exploration Drilling and Well Development: During the growth of oil and gas fields, companies are going into exploratory exploration drilling to enjoy the presence of the oil gas fields and follow up with a development drilling to make it productive by drilling good wells.
- Enhanced Oil Recovery Techniques: With new developments in advance technique of extraction the large oil companies are involved in exploitation of various techniques of extracting more oil per field, i.e. water flooding, gas injection and chemical recovery amongst others.
- Offshore and Deepwater Operations: The journey to learning how to access the hard-to-get offshore locations has made the major oil corporations in India depend on the state of art drilling platforms and underwater technology.
Midstream (Transportation and Storage)
The mid stream is the industry that connects the production regions and packed up regions that acts as a thorn of oil corporation value chain in India:
- Pipeline Network Development: The oil companies have constructed the pipeline networks in India in such a way that crude oil, natural gas as well as the refined products are transported throughout the country through the thousands kilometers pipeline networks.
- Storage Terminal Operations: Companies maintain strategic storage in form of tank farms, underground caverns and floating storage in order to offer security of supplies and stability to the market.
- Product Blending and Quality Control: The crude oil is refined through the midstream activities where oil corporations in India refine various grades of fuel and chemicals to a certain level of quality requirements and using state of art blending facilities.
- Cross-Border Pipeline Projects: The international pipeline projects that some of the Indian Oil companies are engaged in are to ensure that they have variety in the supply sources as well as keeping the transportation charges at low level.
Downstream (Refining and Marketing)
The most obvious operation of the oil companies in India is the downstream business operation and it is the activity that comes as a direct benefit to the end user:
- Crude Oil Refining and Processing: The refinery that the oil companies operate in India is a state of the art plant to process crude oil to gasoline, diesel, jet fuel and hundreds of other allied petroleum products.
- Retail Network Development: It is the fueling stations that companies have developed very large systems of that make the petroleum products easily accessable to millions of customers around the country.
- Petrochemical Manufacturing: The incorporation of the petrochemical complexes that generate plastics, synthetic fibers, fertiliser and industrial chemicals is found in the large oil firms in India.
- Product Distribution and Logistics: The firm must possess an elaborate system of distribution which entails loading of trucks facilities, rail facilities and the aviation fuel facility in order to offer appropriate delivery of the products.
The Future of Oil and Gas in India: Challenges & Opportunities
Indian oil company front has a number of pitfalls and possibilities that are in the offing:
- Energy Transition and Renewable Integration: The challenge that lies before Indian oil companies is how to switch between their current operations and the production of hydrocarbons and their new investments into renewable energy sources, hydrogen, and biofuels so that their organizations would be in a position to achieve and realistically meet their climate objectives.
- Digital Transformation and Industry 4.0: Cloud computing, the internet of things and connected devices are the basic tools to make businesses more cost effective and client-oriented in a world where mobility and connected are highly regarded.
- Environmental Compliance and Sustainability: The oil industry in India needs to be superior vis-a-vis the environmental laws, though they have the duty to work out in implementing clean processes of production and carbon capture to nullify the impart on the environment.
- Global Market Volatility and Price Fluctuations: The above companies are still faced with the volatility of the crude oil prices, geopolitical instabilities as also the changing global demand patterns that are impacting their earning capacities and also investment portfolios.
- Infrastructure Modernization and Expansion: The oil companies in India can also utilize the opportunity to bring the old infrastructure back to life, serve markets that have not been served well, and come up with new breed of facilities that will appease the new markets that are yet to open up.
Conclusion
In India, the oil companies in India are a fast moving and changing industry, which is of great significant in the growth of the nation economically and in its energy security. The state owned monopolies(ONGC and Indian oil) and privately owned monopolies (Reliance industries) have managed to be very versatile and have experienced tremendous growth over the last several decades. There is much more to the contribution of the sector than just fuel supply; this includes petrochemicals, development of infrastructure, creation of jobs and technological advances.
As India seeks its goal of transforming its energy mix and shift towards its climate targets, most Indian oil companies are thinking of becoming integrated energy businesses as opposed to the old definition of an oil company. This transition entails major investments into renewable energy, digitization and practices towards sustainability, and yet not exclusively in operational excellence in our front- and back-office.
Explore Different Types o companies Working in India:
Frequently Asked Questions (FAQs)
1. What are the biggest oil companies in India in terms of market value?
India has the largest oil companies in the markets including Reliance Industries Limited, Oil and Natural Gas Corporation (ONGC) and Indian Oil Corporation (IOCL). These businesses symbolize billions of dollars in value and they are India’s most valuable companies in terms of business in every sector.
2. What are the differences between the way the oil companies operate in India between the public and the private?
The state run oil companies such as, ONGC, IOCL and BPCL keep energy security and the welfare of the common person in mind and operate on policies of various governments in line with government policies on pricing and distribution. India is characterized by the entry of private industry groups such as the Reliance Industries which enjoy commercial flexibility in pursuit of profit based on open competition markets, shareholders and dividends.
3. How much do oil companies contribute in the economy of India?
The contribution of oil companies in India to the GDP is about 8-10 percent with direct employment of more than 1.5 million people and export earnings of more than 60 billion dollars a year and collection of indirect taxes by way of various duties and levies to the tune of nearly 25 percent in total tax collections.
4. What is the strategy of the oil companies against the current trends of renewable energy in India?
The Indian oil companies are making huge investments in new renewable energy projects such as solar energy and wind power, green hydrogen production technologies, electric vehicle charging stations, research on biofuels, and other alternative sources of energy in an effort to diversify their energy assets.
5. What are the issues at oil companies in India in the present market place?
The notable threats are the fluctuation of world prices in the crude oil market, the growing number of environmental regulations, the necessity to digitalize businesses, the rise of alternative energy forms that compete with this one, and the need to strike a balance between energy security and environmental sustainability and ensuring profitability and maintaining operations at an acceptable level.