India's Best Upstream & Downstream Oil Companies
                     India's Best Upstream & Downstream Oil Companies
POST HIGHLIGHT...
In light of Russia's invasion of Ukraine, crude oil prices worldwide have 
reached all-time highs. The supply networks have collapsed as a result of 
a noticeable increase in demand. Until the Organization of Petroleum 
Exporting Countries (OPEC) increases production, the oil market will 
experience its worst supply crisis in decades. The cost of vital 
commodities may rise if oil prices continue to rise.
India's oil consumption is expected to double from its present levels to 
11 million barrels per day by 2045, according to an OPEC prediction. The 
Indian government has implemented a number of policies and subsidies 
to promote upstream and downstream oil industries in response to the 
rising demand for petroleum products. In upstream and private sector 
refining projects, 100% foreign direct investment (FDI) has even been 
permitted.
We'll take a closer look at India's Best Upstream & Downstream Oil 
Companies in this blog post.
CONTINUE READING...
One of India's eight main sectors is the oil and gas industry. It has a significant impact on all 
important facets of our economy. Oil companies can be broadly categorised into two groups: 
upstream and downstream, depending on how they operate and where they fit into the supply 
chain for crude oil and its byproducts. These businesses are essential to the development of 
India's economy since they handle everything from oil exploration and production to 
distribution.
Learn about India's key upstream and downstream oil companies in this article.
India's Best Upstream & Downstream Oil Companies
Upstream oil companies
Crude oil and natural gas are found and produced by the upstream sector. This entails looking for 
potential oil fields, digging test wells, and determining whether they have the capability of 
producing a significant amount of oil. The businesses operating in this sector also bring surface-
recovered natural gas and crude oil. Exploration and Production (E&P) corporations are another 
name for such organisations. Research and development (R&D) efforts are extremely important 
to them. Geologists, scientists, engineers, and seismic specialists are among the employees of 
E&P firms.
Geological surveys employing electronic equipment and artificial intelligence (AI) are essential 
for modern oil exploration . Over the past few years, mechanical drilling and fracking equipment 
has progressed and become more effective.
Oil & Natural Gas Corporation (ONGC)
Oil & Natural Gas Corporation (ONGC) The largest producer of crude oil 
and natural gas in India is Oil and Natural Gas Corporation (ONGC) Ltd. 
The extraction of oil is the main focus of its operations. About 71% of 
India's total crude oil production is accounted for by this corporation.
Nearly 105 oil drilling rigs and 74 workover (portable) rigs are operated by 
ONGC. Over 11,000 kilometres of oil pipelines are under its possession 
throughout India. The petroleum extracted by ONGC is used as a raw 
material by downstream oil businesses like Indian Oil Corp. (IOCL), BPCL, 
and HPCL.
In the business, the Government of India (GoI) owns a 60.4% majority 
share. The Ministry of Petroleum & Natural Gas has administrative 
supervision of ONGC. You may read more about the powerhouse of 
energy here.
Oil India Limited (OIL)
Oil India Limited (OIL) is a state-owned company that discovers, develops, 
and produces natural gas and crude oil both domestically and abroad. 
1,157 kilometres of cross-country crude oil pipelines are run by the firm. 
In Assam, West Bengal, and Bihar, it also owns 10 crude oil pumping 
stations, 13 drilling rigs, 14 work-over rigs, and 14 work-over rigs.
In the Mahanadi Offshore, Mumbai Deepwater, and Krishna Godavari 
Deepwater New Exploration Licensing Policy (NELP) blocks, OIL holds 
participation interests. Additionally, it participates in a number of offshore 
projects in Venezuela, the United States, Sudan, Nigeria, and Libya.
Reliance Industries Ltd
One of the main private participants in the Indian upstream oil sector is Reliance Petroleum, a 
division of RIL. Dhirubhai Deepwater (DD) KG-1 and DD KG-2, two well-known oil rigs in the Bay 
of Bengal, are operated by it. The Jamnagar oil refinery, which is owned by Reliance Industries, is 
also the biggest refinery in the world. 1.97 lakh cubic metres of crude oil can be produced there 
every day!
Larsen & Toubro Ltd
Numerous projects involving oil extraction and processing are being worked on by the top 
engineering and construction firm. Additionally, L&T provides essential tools and systems for oil 
and gas projects. The company's hydrocarbon business serves every step of the hydrocarbon 
value chain, including the processing of oil and gas, petroleum refining, chemicals, and 
petrochemicals.
BP Plc
London is home to the multinational British oil and gas corporation BP Plc. The business 
established a joint venture (JV) in India with Reliance Industries Ltd. in 2020. The JV, which 
operates under the "Jio-bp" brand, seeks to dominate India's gasoline and transportation 
industries.
Downstream oil companies: 
Petroleum products are refined, manufactured, and marketed by downstream oil firms. 
Petrochemical plants, fuel retailers, and oil refineries make up this market segment. They sell a 
variety of goods, including gasoline, diesel, natural gas, jet fuel, plastics, synthetic rubber, 
insecticides, and pharmaceutical chemicals. Thus, downstream oil firms are in charge of 
managing the crucial final processes of refining and turning crude oil into finished goods that are 
then offered for sale to end users.
Indian Oil Corporation Ltd (IOCL)
In India, IOCL is involved in petroleum product refining, transportation, research & development, 
and marketing. Petrol, diesel, lubricants, greases, aviation fuel, commercial fuels, and marine oils 
are among its offerings. The state-owned business runs 7 overseas subsidiaries, around 15,000 
km of crude oil and gas pipelines, and 11 refineries throughout India. A 32% market share 
belongs to IOCL in the downstream oil sector.
Hindustan Petroleum Corporation Ltd (HPCL)
In India and around the world, Hindustan Petroleum Corporation Ltd. (HPCL), a division of ONGC 
Ltd., refines and sells petroleum products. The business sells lubricants, greases, aviation turbine 
fuel, liquefied petroleum gas (LPG), kerosene, gasoline, diesel, and naphtha. Additionally, it sells 
and exports bitumen, marine lubricants, and jet and marine gasoline. A total of 18,634 retail 
locations, 6,192 LPG distributors, 46 aviation service facilities, and 41 oil and gas ports made up 
HPCL's operating network as of March 2021. Two refineries owned by the firm are located in 
Mumbai and Visakhapatnam. A 25% market share has been attained by HPCL in the downstream 
oil industry.
Bharat Petroleum Corporation Ltd (BPCL)
In India, BPCL refines crude oil and sells petroleum-based goods. Its network of over 15,402 
fueling locations sells gasoline, diesel, liquefied petroleum gas (LPG) for automobiles, and 
compressed natural gas. Additionally, the business provides jet fuel, gear oils, greases, and car 
engine oils to airlines. In Mumbai, Bina (Madhya Pradesh), Numaligarh, and Kochi, BPCL runs oil 
refineries. 2,241 km of multi-product pipelines are run by them.
In the downstream oil market in India, BPCL holds a 24% market share.
Conclusion 
The majority of the aforementioned oil businesses are now slowly shifting to renewable energy 
sources, nevertheless. Natural resources for crude oil, hydrocarbons, natural gas, and other fossil 
fuels are finite. In recent years, these supplies have been fast running out. There will come a 
time when oil is in short supply. India has committed to reducing its GDP's proportion of carbon 
emissions by 33% to 35% from 2005 levels by 2030. By 2025, the government wants to increase 
the nation's use of renewable energy by twofold, reaching 20%.
To assist India in achieving these lofty goals, major oil firms are making significant investments in 
green energy initiatives and infrastructure for EV charging stations. Let's anticipate how they 
carry out their strategic plans.
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