Best Oil and Gas Companies of India [2024 Updated List]

Last Updated on October 22, 2024 by Admin

India is the third largest energy and oil consumer globally after China and the US. The oil and gas sector is among the six core industries in India. It plays a significant role in influencing decision-making for all the other essential sections of the economy. Below is the list of the oil and gas companies in India.

India’s economic growth is closely related to energy demand; therefore, the need for oil and gas is projected to grow, making the sector quite conducive to investment.

The Government of India has adopted several policies to fulfill the increasing demand. The government has allowed 100 percent Foreign Direct Investment (FDI) in many sector segments, including natural gas, petroleum products, and refineries.

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India is the fourth-largest Liquefied Natural Gas (LNG) importer after Japan, South Korea, and China and accounts for 5.8 percent of the total global trade. Domestic LNG demand is expected to grow at a CAGR of 16.89 percent to 306.54 MMSCMD by 2022 from 64 MMSCMD in 2015.

According to data released by the Department for Promotion of Industry and Internal Trade Policy (DPIIT), the petroleum and natural gas sector attracted FDI worth US$ 7.018 billion between April 2000 and March 2019.

Snapshot of India’s Oil & Gas Sector 2024

• Crude Oil Production: Indigenous crude oil production stood at 2.2 million metric tons (MMT) in April 2024.
• Imports: India imported 19.4 billion barrels of crude oil in April 2024.
• Refining Capacity: The country processed 7.1 MMT of crude oil in April 2024.
• Natural Gas: The natural gas market is expected to grow, with a forecasted volume of 38.12 billion cubic meters in 2024.
• LPG Consumption: LPG consumption continues to rise, supported by significant marketing efforts across regions.
• Pipeline Network: India has around 10,419 km of crude oil pipelines and 17,389 km of natural gas pipelines.
• Market Trends: The downstream sector is expected to grow significantly due to increasing demand for transport fuels and LPG.
• Investment: There is increased investment in midstream infrastructure, including pipelines and LNG terminals.
• Economic Indicators: The oil and gas sector plays a crucial role in India’s economy, with a net import bill of $12.3 billion in April 2024.

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Best Oil and Gas Companies In India

Considering all the available data and positive news from various sources, we can see great potential in India’s Oil and Gas sector. We have compiled below the list of the best Oil and gas companies in India, in which we see huge potential to grow shortly. Also, kindly check Simply Switch for a fair and unbiased view of gas and electricity deals available in your local area.

List the top and best oil and gas companies in India, India’s oil and gas industry. Oil and gas companies in Mumbai and Pune, as well as oil and gas EPC companies, All these companies also belong to the top 10 oil and gas companies globally in 2024 and the top 100 oil and gas companies—the future of the oil and gas industry in India.

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You can also find the public sector oil companies in India and the largest oil companies by production.

Few of these companies are PSU & state-owned companies. Some of these companies are also listed on Indian stock markets. Kindly go through the below list of companies and visit their career page to find the current employment opportunities and start applying for the jobs. We will keep on adding more potential companies from Oil & Gas in India.

Final thoughts

The future of India’s oil and gas industry will depend on the government’s willingness to change. The government should open up the market for private companies, invest in the infrastructure needed to transport natural gas, and develop a plan to increase domestic production of crude oil. The Indian market has always been tough for oil and gas companies, but with the recent developments in the country, there are a lot of opportunities coming up.

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