5 Largest Oil & Gas Companies In India

• ONGC, IOCL and Reliance Industries are India’s largest oil & gas companies both by volume and value
• Reliance Industries operates the world’s largest petrol refining plant in Jamnagar, Gujarat

In India’s economy, the oil & gas sector plays an important role. India’s economic growth is deeply connected with its energy demand. As of 2021, India was the world’s 3rd largest oil consumer. At its petrol pumps India serves 60 million customers on daily basis. This led to a consumption of 5 million barrels of oil every day. Analyst expect the daily consumption of barrels could go up to 11 million barrels by 2045. Largest Oil & Gas companies in India cater the country’s energy demand by their huge pipeline and sales networks.

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Riding on huge oil demand India is on its way to double its refining capacity to 450 – 500 million tonnes by 2030. Jamnagar, Haldia, Chennai, Hyderabad are major oil and gas clusters with presence of largest oil & gas companies. Top 5 Largest oil & gas companies in India contributes significantly to India’s energy demand. Here’s the list of 5 of them:

ONGC

ONGC stands for Oil And Natural Gas Corporation. It is the largest crude oil producer in India which accounts for 70% of India’s crude oil production. Government Of India owns 60.41% stakes in ONGC. Around 84% of India’s natural gas is produced by this company only.

ONGC operates over 11,000 km of pipeline in the country and it has 15 projects in other countries through its subsidiary ONGC Videsh. A giant oilfield Bombay High or Mumbai High was discovered by ONGC in 1970. It is one of the most profitable PSUs in India.

Revenue	₹4,91,269 crore
Net Income	₹47,830 crore
Employees	28,479
Headquarters	New Delhi

IOCL

One of the leading and most profitable PSUs in India is IOCL (Indian Oil Corporation Limited). IOCL is the largest government owned oil corporation. In the year 2020-21, IOCL reported a huge net profit of $6.1 billion which was highest for any PSUs in the country. Government of India owns 51.5% stakes in IOCL.

To put how big IOCL is one should know that it accounts for nearly half of India’s petroleum market and 35% of India’s national refining capacity. Out of 23 refineries in India, 11 of them are owned by IOCL that refines 80.7 million tonnes of crude oil every year. Bharat Petroleum and Hindustan Petroleum are other PSUs that rivals IOCL. Reliance Petroleum, Essar Oil and Shell are private rivals of IOCL.

Revenue	₹5,89,335 crore
Net Income	₹24,491 crore
Employees	33,000+
Headquarters	New Delhi

Reliance Petroleum

Reliance Petroleum is a part of Reliance Industries which is one of the biggest private sector companies in India. This company operates the world’s largest oil refinery in Jamnagar, Gujarat. The Jamnagar oil refinery has capacity of refining 1,440,000 barrels of oil every day. This makes Reliance Petroleum one of the largest oil companies in India.

Reliance Industries is the first Indian company to cross $100 billion in annual revenue. Apart from being an oil giant, Reliance Industries has its presence in telecom, retail, mass media and textiles too. Reliance Industries gets a big chunk of its revenue from petroleum business. The petroleum business alone generates more than $70 billion in revenue every year.

Revenue	₹792,756 crore
Net Income	₹67,845 crore
Employees	3,42,982
Headquarters	Mumbai

GAIL

GAIL stands for Gas Authority Of India Ltd. This government owned company is responsible for processing and distributing natural gas. GAIL owns a network of 13,722 km of natural gas pipeline which is around 67% of India’s natural gas pipeline network. The total natural gas pipeline network in India is of around 20,300 km. In natural gas market GAIL is an undisputed leader. More than 95% of natural gas sold in the country is produced by GAIL.

LPG (Liquified Petroleum Gas) is the most widely used fuel in India. GAIL constitutes around 40% of India’s LPG production. The company operates 7 LPG plants in India. It is the first company in India to operate pipelines for LPG transmission. GAIL has around 2,033 km of LPG pipeline network in India. The company is also involved in CNG, propane and pentane production.

Revenue	₹93,942 crore
Net Income	₹10,541 crore
Employees	4,700+
Headquarters	New Delhi

Bharat Petroleum

India’s second largest government owned oil & gas company is Bharat Petroleum. The company operates four refineries in India. One in Kochi s the largest refinery owned by Bharat Petroleum which has a refining capacity of 15.5 million metric tonnes per annum. Government of India owns around 52.8% stakes in BPCL (Bharat Petroleum Corporation Ltd).

This company has its name in the list of world’s biggest corporations. Indraprastha Gas Limited (IGL) is a joint venture between GAIL and BPCL for gas distribution in Delhi. This joint venture operates more than 400 CNG fuel stations in Delhi and has supplied gas to over 9 lakh homes.

Revenue	₹432,570 crore
Net Income	₹10,145 crore
Employees	9257
Headquarters	Mumbai

So These Were 5 Largest Oil & Gas Companies In India.