Oil and Gas Companies in India: Top Companies, Industry Overview & Export Opportunities in 2026
India has a large oil and gas industry. It covers exploration, crude oil production, refining, fuel sales, natural gas, petrochemicals, storage, and exports.
For global buyers, India is important because it imports crude oil, processes it in refineries, and exports refined petroleum products.
In simple terms:
India buys crude oil → Indian refineries process it → products are sold in India or exported.
This makes the market relevant to importers, distributors, traders, procurement teams, and other B2B buyers.
How Does the Oil and Gas Industry in India Work?
The industry has three main parts.
Upstream means finding and producing oil and gas. This includes exploration, drilling, and production.
Midstream means moving and storing oil and gas. Pipelines, ships, terminals, and storage facilities are part of this stage.
Downstream means refining and selling petroleum products.
The basic chain is:
Explore → Produce → Transport → Refine → Sell or Export
That is why oil and gas companies in India include many different types of businesses.
Top Oil and Gas Companies in India
India has large public-sector companies and private energy groups.
Indian Oil Corporation
Indian Oil Corporation, known as IndianOil, is one of India's largest oil companies. It works in refining, fuel marketing, pipelines, LPG, aviation fuel, and petrochemicals.
ONGC
Oil and Natural Gas Corporation, or ONGC, is a major exploration and production company. It produces crude oil and natural gas in India, including offshore fields.
Bharat Petroleum
Bharat Petroleum Corporation Limited, or BPCL, works in refining, fuel marketing, LPG, lubricants, and aviation fuel. It is also one of the major oil companies in Mumbai.
Hindustan Petroleum
Hindustan Petroleum Corporation Limited, or HPCL, operates in refining, fuel retail, LPG, lubricants, pipelines, and petroleum distribution. HPCL is headquartered in Mumbai.
Reliance Industries
Reliance Industries has a major refining and petrochemical business. Its Jamnagar complex in Gujarat is a key refining center and an important part of India's export network.
Oil India
Oil India Limited is active in oil and natural gas exploration and production. It has important operations in Assam and other parts of India.
GAIL
GAIL (India) Limited is a major natural gas company. It works in gas transport, processing, trading, and marketing.
Why Are Oil Companies in Mumbai Important?
Oil companies in Mumbai are relevant because Mumbai is a major business center for India's energy industry.
Mumbai has strong links to finance, shipping, ports, and western offshore oil and gas activity. Several major energy companies have headquarters or large offices there.
Mumbai is important, but it is not the only oil and gas hub.
Gujarat is important for refining and petrochemicals. Assam and Rajasthan are important for oil and gas production. Other states also have refineries, terminals, pipelines, storage sites, and industrial users.
India Crude Oil Imports: Why Does India Buy Oil From Other Countries?
A common question is: “India import oil from which country?”
India buys crude oil from many countries, including Russia, Iraq, Saudi Arabia, the UAE, the United States, and other producers.
The mix changes over time. Prices, shipping costs, refinery needs, trade rules, and global events can all affect India's buying pattern.
Why does India need imported crude?
The simple answer is that domestic crude production does not meet total demand.
India has a very large fuel market, so refineries need steady crude supplies.
This makes india crude oil imports a key part of the energy system.
What Happens After Crude Oil Reaches India?
Imported crude oil is sent to refineries. The refinery processes the crude into different products.
These can include:
- Gasoline
- Diesel
- Jet fuel
- LPG
- Naphtha
- Bitumen
- Lubricants
- Petrochemical feedstocks
This explains an important point:
India can import crude oil and still export petroleum products.
Crude is the raw material. Refining changes it into products that can be used in India or sold to overseas buyers.
Is India a Major Oil Refining Hub?
Yes. India has a large refining industry.
Jamnagar in Gujarat is a major refining hub. Other refining centers are found in Maharashtra, Karnataka, Tamil Nadu, and other states.
This refining network serves India's domestic market and supports exports.
For international buyers, India can be a source of finished petroleum products, not only crude.
What Petroleum Products Does India Export?
India's oil export business is focused mainly on refined and downstream products.
Exports can include diesel, gasoline, aviation fuel, naphtha, bitumen, lubricants, and other petroleum products.
This creates B2B opportunities for importers, distributors, and traders.
A better question is:
“Which petroleum product do I need, and which Indian supplier can meet my quality, volume, price, and delivery needs?”
How Can International Buyers Source From India?
Petroleum sourcing needs careful checks.
First, confirm the product grade, quality, quantity, and intended use.
Then check the supplier's company details, export experience, supply capacity, and relevant approvals.
Next, confirm the price, payment terms, delivery terms, loading point, shipping plan, and insurance.
Documents also matter. Buyers may need commercial, customs, product, shipping, and compliance documents.
Finally, check the rules in both countries. Petroleum trade can involve safety, customs, sanctions, tax, and product-specific requirements.
Do not rely only on a website listing. Complete normal business checks before a large payment or supply contract.
Where Do B2B Opportunities Exist?
The Indian oil and gas market includes more than the biggest national companies.
Buyers may also work with petroleum traders, fuel distributors, gas companies, and export firms.
A B2B marketplace can help buyers discover suppliers.
Exporters Worlds is a B2B marketplace where buyers and suppliers can discover each other and discuss trade requirements. The platform says it supports buyer verification, lead qualification, direct communication, and export assistance.
It can help with supplier discovery. Buyers should still verify the company, product, documents, and trade terms before a deal.
What About Natural Gas?
Natural gas is also important to India's energy market.
The gas sector includes production, LNG imports, pipelines, processing, and city gas distribution.
ONGC, Oil India, GAIL, and Petronet LNG are important names in this space.
Opportunities can also include LNG, gas equipment, infrastructure, and industrial services.
India's Oil and Gas Outlook in 2026
India's energy market remains important for international business.
Key areas to watch include oil demand, refining activity, natural gas use, crude imports, petroleum exports, trade rules, and the energy transition.
The practical focus is simple:
Find the right product. Check the right supplier. Confirm the documents. Understand the trade rules.
Final Takeaway
India's oil and gas industry covers exploration, production, transport, refining, fuel sales, natural gas, and exports.
Major oil and gas companies in India include IndianOil, ONGC, BPCL, HPCL, Reliance Industries, Oil India, and GAIL.
When people ask “india import oil from which country,” the answer is several countries rather than one. India uses imported crude to support its large refining industry.
Refineries turn crude into diesel, gasoline, jet fuel, LPG, and other petroleum products. Some are sold in India. Others are exported.
For international buyers, this creates a clear path to explore Indian suppliers and B2B trade opportunities.
Understand the product, verify the supplier, check the documents, and confirm trade requirements.
Frequently Asked Questions
Which are the top oil and gas companies in India?
Major companies include IndianOil, ONGC, BPCL, HPCL, Reliance Industries, Oil India, GAIL, and other public and private businesses.
Which are the major oil companies in Mumbai?
BPCL and HPCL are major oil companies in Mumbai. Mumbai is also an important business and financial center for the energy sector.
India import oil from which country?
India imports crude oil from several countries, including Russia, Iraq, Saudi Arabia, the UAE, the United States, and other oil-producing countries. The mix can change over time.
Why does India import crude oil?
India's domestic crude production is not enough to meet total demand. Imports provide the crude needed by its refineries.
What petroleum products does India export?
India exports products such as diesel, gasoline, aviation fuel, naphtha, bitumen, lubricants, and other refined petroleum products.
How can an international buyer find an Indian petroleum supplier?
Buyers can use industry networks, direct outreach, trade events, and B2B marketplaces. Before buying, check the supplier's company details, product specifications, capacity, documents, and compliance.
Is India a major oil refining country?
Yes. India has a large refining industry with major facilities in Gujarat, Maharashtra, Karnataka, Tamil Nadu, and other regions.
