The scale at which oil and gas are produced is a sign of the economic growth of a nation. It is no different for India and the production of oil and gas by the leading petroleum companies in India forms the very foundation of our economic growth. The various oil companies operating in India are all large entities and they have contributed immensely to the nation’s growth. The allied industries these oil and gas companies support, like the ones offering raw materials, are an important sector of the economy by themselves.
In India, most of the oil and gas companies are state-owned with large private players gradually taking to the field. If it’s some enlightenment on Indian oil and gas companies that you’re looking for, read on as we bring you the top Indian petroleum companies. The majority of them are Public Sector Undertakings and few of them are from private sectors.
Indian Oil
Headquartered in New Delhi, Indian Oil is a state-owned oil and gas behemoth. It’s ranked at number 88 on the Fortune 500 Global List of Companies. It is also India’s largest public organization in terms of revenue. Numbering at 20,575, Indian Oil operates India’s largest network of fuel stations. As a responsible business entity, Indian Oil has forayed into opening auto LPG dispensing stations to help the nation fight air pollution. The cooking gas supplied by Indian Oil under the brand name Indane Gas is a household name in India.
- Market Cap: Rs. 78,231.66 crores
- P/E: N.A.
- Face Value: Rs. 10.00
- Book Value: Rs. 99.85
Oil and Natural Gas Commission
With its headquarters in Dehradun, ONGC has grown from strength to strength establishing itself as an Indian multinational oil and gas company. Like Indian Oil, ONGC to is state-owned and it’s one of the largest oil and gas exploring and producing companies in Asia. It meets much of India’s energy needs producing around 72% of the nation’s crude oil and 48% of its natural gas. 69.23% of the company’s equity stakes are held by the Indian state which founded the company on 14th August 1956. It operates a vast network of pipelines covering 11,000 kilometers.
- Market Cap: Rs. 92,339.25 crores
- P/E: 11.8
- Face Value: Rs. 5.00
- Book Value: Rs. 154.48
Bharat Petroleum Company
Another state-owned oil-producing giant, Bharat Petroleum walks in at number 3 on our list. With its headquarters in Mumbai, the company operates two major refineries at Mumbai and Kochi. While the former has a capacity of 12 million metric tonnes per year, the latter produces 9.5 million metric tonnes per year. In the year 2012, the company was ranked 225th in the Fortune 500 List of Global Companies. It employs more than 15,000 people and produces oil of the finest quality for the domestic as well as international market.
- Market Cap: Rs. 92,930.75 crores
- P/E: 25.25
- Face Value: Rs. 10.00
- Book Value: Rs. 154.05
Hindustan Petroleum Corporation Limited
Hindustan Petroleum Corporation Limited is another major oil and natural gas company owned by the Indian government and it has been bestowed with the Navaratna status. It has its headquarters in Mumbai. In 2013, it was ranked at the 260th position among Fortune’s Global 500 List of large companies. With a strong marketing infrastructure, HPCL enjoys a 20% share of the Indian market. An interesting piece of information is the Indian president holding 51.11% shares in this Navaratna oil and gas giant.
- Market Cap: Rs. 30,331.69 crores
- P/E: 6.54
- Face Value: Rs. 10.00
- Book Value: Rs. 190.06
Gas Authority of India Limited
Having its headquarters in New Delhi, GAIL happens to be India’s largest state-owned producer and distributor of natural gas. It won the Maharatna status on February 1, 2013, from the Government of India. Natural gas, liquefied petroleum gas transmission, petrochemicals, electricity generation, GAILTEL, liquid hydrocarbon, gas distribution in cities, and exploration and production are its different segments of the business. Founded in the year 1984, the company employs more than 4000 people. It’s also one of India’s best employers.
- Market Cap: Rs. 41,197.81 crores
- P/E: 7.37
- Face Value: Rs. 10.00
- Book Value: Rs. 96.92
Oil India Limited
Oil India Limited has its headquarters in Duliajan, Assam. But the company’s corporate office is based out of Noida in the national capital region. It’s a major Indian public sector hydrocarbon company being the second largest one engaged in exploration and production. It’s also involved in exploring, developing, and producing natural gas and crude oil. Transportation of crude oil and production of liquid petroleum gas are two other major activities the company is engaged in. It employs more than 11,000 people and is one of the Maharatnas.
- Market Cap: Rs. 10,236.79 crores
- P/E: 5.99
- Face Value: Rs. 10.00
- Book Value: Rs. 224.89
Reliance Petroleum Limited
Among the private sector companies, Reliance Petroleum Company comes in first as the largest company engaged in oil production and 7th overall in our list of India’s top ten petroleum companies. Set up by Reliance Industries Limited, it has its headquarters in Ahmedabad. RPL, a subsidiary of RIL is involved in the downstream oil business. RPL has a strategic alliance with Chevron India Holdings Pte Limited, Singapore; a partnership that has benefited the company greatly. The company was founded in 2008 and it employs 10,000 people.
- Market Cap: Rs. 58,882.50 crores
- P/E: N.A.
- Face Value: N.A.
- Book Value: N.A.
Essar Oil
Involved in producing and exploring oil and natural gas, crude oil refining the marketing of petroleum products, Essar Oil is an Indian private sector company. It’s owned by the Mumbai-based Essar Group. In 2009, it was India’s largest refiner of oil not owned by the state operating a large refinery in Vadinar, Gujarat, the nation’s second-largest. It was in 2009 itself that Essar acquired 50% stakes in Kenya Petroleum Refineries Limited. It’s owned by the Ruias and it has major operations in the UK with this division by itself generating a revenue of USD 5.4 billion.
- Market Cap: Rs. 38,094.55 crores
- P/E: 17.52
- Face Value: Rs. 10.00
- Book Value: Rs. 26.56
Tata Petrodyne Limited
Owned by the Indian corporate behemoth, the Tata Group, Tata Petrodyne Limited is involved in the exploration and production of natural gas and crude oil. After various bidding rounds conducted by the Indian Government since 1994, Tata Petrodyne acquired interests in as many as seven oil and gas blocks in India. Tata Petrodyne entered into strategic alliances with both foreign and domestic oil companies for securing and implementing the various projects. The company reached a landmark with its first international venture in 2007 when it acquired a participating interest in a North Sea gas-bearing block.
- Market Cap: Rs. 18,117.58 crores
- P/E: N.A
- Face Value: Rs. 1.00
- Book Value: Rs. 43.22
Cairn India
Founded only in 2007, Cairn India is the emerging powerhouse in the Indian oil and gas sector. With its headquarters in Gurgaon, the company employs more than 2000 people. The company also has major operations in Sri Lanka and South Africa. A business vertical of Vedanta Limited, Cairn has contributed 25% to domestic oil production in India in the financial year 2018-19. It has interests in as many as 58 blocks in India. Cairn India today has a portfolio adding up to 65,000 square kilometers. It is also setting up the largest alkaline surfactant polymer project in the world.
- Market Cap: Rs. 53,537.95 crores
- P/E: 61.77
- Face Value: Rs. 10.00
- Book Value: Rs. 198.62
List of Top 10 Petroleum Companies in India
| Sl. No. | Company | Establishment | Head office | Website |
| 1 | Indian Oil | 1959 | New Delhi | https://www.iocl.com |
| 2 | Oil and Natural Gas Commission | 1955 | New Delhi | http://www.ongcindia.com |
| 3 | Bharat Petroleum Company | 1952 | Mumbai | https://www.bharatpetroleum.com |
| 4 | Hindustan Petroleum Corporation Limited | 1974 | Mumbai | https://www.hindustanpetroleum.com |
| 5 | Gas Authority of India Limited | 1984 | New Delhi | https://gailonline.com |
| 6 | Oil India Limited | 1959 | Noida | http://www.oil-india.com |
| 7 | Reliance Petroleum Limited | 2008 | Ahmedabad | https://www.reliancepetroleum.com |
| 8 | Essar Oil | 1969 | Mumbai | https://www.essar.com |
| 9 | Tata Petrodyne Limited | 1993 | Mumbai | http://www.tatapetrodyne.in |
| 10 | Cairn India | 2006 | https://www.cairnindia.com |
Conclusion
All the companies on our list of the leading petroleum companies in India are massive entities with a major presence in the Indian market. We hope you find our article informative and interesting. This list is dominated by public sector undertakings. With the economy having been liberalized, private companies are slowly but steadily emerging as major stakeholders in the Indian oil and gas sector.
