India's Best Upstream & Downstream Oil Companies

India's Best Upstream & Downstream Oil Companies

The oil and gas sector is one of India's eight key industries. It significantly affects all crucial areas of our economy. Depending on how they operate and where they sit in the supply chain for crude oil and its byproducts, oil businesses may be generally divided into two groups: upstream and downstream. Since they manage everything from oil exploration and production to distribution, these companies are crucial to the growth of India's economy.

On this page, you can read about the important upstream and downstream oil firms in India.

India's Best Upstream & Downstream Oil Companies

Upstream oil companies

The upstream sector is responsible for finding and producing crude oil and natural gas. Finding potential oil fields and drilling test wells to see if they have the capacity to produce a sizable amount of oil are necessary steps in this process. Businesses in this industry also supply crude oil and natural gas that have been surface-recovered. These organizations are often known as exploration and production (E&P) corporations. They place a high value on research and development (R&D) activities. Employees of E&P companies include geologists, scientists, engineers, and seismic experts.

Modern oil prospecting requires geological surveys that make use of technological technology and artificial intelligence (AI). Mechanical drilling and fracking technology have advanced and improved over the last few years.

Oil & Natural Gas Corporation (ONGC)

Natural Gas & Oil Corporation (ONGC) Oil and Natural Gas Corporation (ONGC) Ltd. is India's top crude oil and natural gas producer. Its operations are mostly focused on oil extraction. This firm is responsible for over 71% of India's entire crude oil output.

ONGC runs 74 workovers (portable) rigs and about 105 oil drilling rigs. It controls oil pipelines spanning more than 11,000 kilometers across India. Indian Oil Corp. (IOCL), BPCL, and HPCL are downstream oil companies that utilize the petroleum that ONGC extracts as raw materials.

The Government of India (GoI) holds a 60.4% controlling stake in the company. Administrative control for ONGC is exercised by the Ministry of Petroleum and Natural Gas. More information regarding the source of energy is available here.

Oil India Limited (OIL)

State-owned Oil India Limited (OIL) finds, develops, and produces crude oil and natural gas both locally and overseas. The company operates 1,157 kilometers of cross-country crude oil pipelines. It also owns 10 crude oil pumping stations, 13 drilling rigs, 14 work-over rigs, and 14 work-over rigs in Assam, West Bengal, and Bihar.

OIL has participation interests in the Mahanadi Offshore, Mumbai Deepwater, and Krishna Godavari Deepwater New Exploration Licensing Policy (NELP) areas. Additionally, it takes engaged in several offshore projects in Libya, Sudan, Nigeria, and the United States.

Reliance Industries Ltd

Reliance Petroleum, a unit of RIL, is one of the major private players in India's upstream oil industry. It runs two well-known oil rigs in the Bay of Bengal called Dhirubhai Deepwater (DD) KG-1 and DD KG-2. The largest refinery in the world is the Reliance Industries-owned Jamnagar oil refinery. There is the potential for daily crude oil production of 1.97 lakh cubic meters!

Larsen & Toubro Ltd

The leading engineering and construction company is now working on many projects involving oil extraction and processing. L&T also offers crucial equipment and systems for oil and gas projects. Every stage of the hydrocarbon value chain, including the processing of oil and gas, petroleum refining, chemicals, and petrochemicals, is served by the company's hydrocarbon business.

BP Plc

The global British oil and gas company BP Plc is based in London. In 2020, the company formed a joint venture (JV) with Reliance Industries Ltd. in India. The JV, which runs under the "Jio-bp" name, aims to control India's transportation and petroleum sectors.

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