Oil and Gas Stocks in India

Here are all 32 oil and gas companies on this list, with price, P/E (P/B for lenders), 52-week high and low and returns against the Nifty 500. The biggest by market value are Reliance Industries, Oil & Natural Gas Corpn and Indian Oil Corporation. 3 of the 32 are worth less than ₹2,000 crore.

Download all 32 (CSV). "Earnings growth" is earnings per share over the last 12 months against the 12 months before. "vs Nifty 500" is the stock's return minus the Nifty 500's, in percentage points.

Prices as of 16 October 2026. Market value, earnings growth and returns from the weekly scan to 9 October 2026. Updated every weekend

11 listed companies move or supply gas: pipelines, LNG import terminals, city gas sellers, LPG bottlers and fuel terminals. The biggest are GAIL, Adani Total Gas and Aegis Logistics. 5 of them have earnings per share up over the last 12 months, and 6 beat the Nifty 500 by 5 points or more over 3 months.

NSE's gas distribution and LPG industries plus the companies named on this page. Prices as of 16 October 2026, updated every weekend

6 listed companies refine crude oil into petrol, diesel and other fuels. The biggest are Reliance Industries, Indian Oil Corporation and Bharat Petroleum Corporation. 5 more make lubricants and other oils from petroleum, led by Castrol India and Gulf Oil Lubricants India. 6 of these 11 beat the Nifty 500 by 5 points or more over 3 months.

NSE's refinery and lubricant industries plus the companies named on this page. Prices as of 16 October 2026, updated every weekend

6 listed companies find and pump crude oil and gas. The biggest are Oil & Natural Gas Corpn, Oil India and Antelopus Selan Energy. 4 more drill wells or run oil field services for others: Deep Industries, Dolphin Offshore Enterprises, Asian Energy Services and Jindal Drilling & Industries. 7 of these 10 beat the Nifty 500 by 5 points or more over 3 months.

NSE's oil exploration industries, with the service companies named on this page. Prices as of 16 October 2026, updated every weekend

Oil and gas stocks are shares of companies that find and produce oil and gas, refine it into fuel, move or supply gas, or make lubricants. The 32 on this page fall into 5 groups. The biggest group is gas pipelines, LNG, city gas and LPG, with 11 companies.

The rule in one line: a company is here when its main business is producing oil and gas, refining it, moving or supplying gas, or making lubricants from petroleum. NSE's industry label is the starting point. Its oil exploration, refinery, gas, LPG and lubricant industries are counted. Gandhar Oil Refinery makes white oils rather than fuel, so it sits with the lubricant makers. Every company added or left out is named below with its reason.

Added from other industries

• Aegis Logistics: NSE files it under logistics, but it handles and stores oil, gas and LPG at ports.
• Aegis Vopak Terminals: NSE files it as miscellaneous, but it owns storage terminals for LPG and other liquid fuels.
• Savita Oil Technologies: NSE files it with petrochemicals, but it makes transformer oils, white oils and other petroleum oils.

Left out on purpose

• GOCL Corporation: NSE files it with lubricant makers, but its business is now explosives, mining services and property.
• NSE's petrochemical industries are left out: those companies use oil products as raw material for plastics and chemicals.
• NSE's edible oil industry is left out too: cooking oil is not petroleum.
• Coal India is in NSE's Nifty Energy index, but it mines coal, so it is not here.

Membership checked every month. Industries follow NSE industry groups

12 of the 32 oil and gas companies gave a production, refining or sales volume on a recent results call. Among them are Reliance Industries (June 2026 call), Oil & Natural Gas Corpn (May 2026 call) and Indian Oil Corporation (August 2026 call). Each sentence is quoted below exactly as it was said.

In their own words

• Reliance Industries June 2026 call

  "Gas production was nearly 26 MMSCMD, which is about 30% of India's natural gas production."Anant Ambani - Reliance Industries Ltd.

• Oil & Natural Gas Corpn May 2026 call

  "Standalone crude oil production was 18.355 million metric tonnes during FY26 as against 18.558 million metric tonnes in FY25, and standalone natural gas production was 19.533 BCM in FY26 as against 19.654 BCM in FY25."Management

• Indian Oil Corporation August 2026 call

  "During the quarter, the refineries achieved crude throughput of 19.2 MMT, with capacity utilization of 109.4%, compared with throughput of 19.7 MMT and capacity utilization of 113.9% during the preceding quarter."Management

• Bharat Petroleum Corporation July 2026 call

  "On the marketing front, demand was healthy across our key products with domestic sales volume at 13.62 million metric tons during the quarter."Management

• GAIL July 2026 call

  "Our gas marketing volume stood at 93.82 MMSCMD, comprising 8.76 MMSCMD in the international market."Management

• Oil India August 2026 call

  "The crude oil production for the quarter was 0.95 MMT, which has increased by 11 plus percentage on year-to-year basis."Abhijit Das

• Hindustan Petroleum Corporation January 2026 call

  "Refinery throughput was 6.38 million tons, at 103% utilization."Management

• Petronet LNG August 2026 call

  "For the current quarter, the nameplate capacity of Dahej increased from 17.5 MMTPA to 22.5 MMTPA."Saurav Mitra

• Aegis Vopak Terminals August 2026 call

  "We have secured a 15-year take-or-pay agreement with a leading conglomerate for petroleum product handling, with committed volumes exceeding 0.5 million metric tons per annum."Raj Chandaria

• Indraprastha Gas August 2026 call

  "With our continued efforts, we achieved average daily gas sales volume during this quarter of 9.66 million standard cubic meters per day, as against 9.13 million SCMD in Q1 of the previous year."Kumar Shankar - MD

• Mahanagar Gas July 2026 call

  "During the quarter, we achieved an overall average sales volume of 4.766 MMSCMD as against 4.672 MMSCMD in the previous quarter, an increase of 2.01%."Praveer Kumar Srivastava - MD

• Gulf Oil Lubricants India September 2026 call

  "In the March quarter, I believe we delivered 14% volume growth, and we have also declared the first-quarter results."Manish Gangwal - CFO

MMT means million tonnes. MMTPA means million tonnes a year. MMSCMD means million standard cubic metres of gas a day. These are the companies' own figures and are not checked against their filings here. Where a company's newest call does not mention it, the sentence comes from an earlier call, and the date shows which. 20 companies have no volume sentence here, either because none is on record or because the one on record did not pass the word-for-word check. Among them are Adani Total Gas, Aegis Logistics and Gujarat Gas.

From each company's most recent call on record that mentions its volume, copied word for word. Checked every month

9 of the 31 oil and gas stocks with a P/E history traded above their own usual P/E at the 17 October 2026 valuation. Among the 10 biggest, earnings per share fell over 12 months at Hindustan Petroleum Corporation (-84%) and GAIL (-15%). 9 of the 32 are behind the Nifty 500 over the last 3 months. The furthest behind are Adani Total Gas (-15.9 points) and Hindustan Petroleum Corporation (-11.2 points).

The 9 furthest behind the Nifty 500

• Adani Total Gas -15.9 points against the Nifty 500 in 3 months. Earnings per share fell 2% in the last 12 months. Watch: Gas-input and pricing pressure may be structural rather than cyclical.
• Hindustan Petroleum Corporation -11.2 points against the Nifty 500 in 3 months. Earnings per share fell 84% in the last 12 months.
• Reliance Industries -4.2 points against the Nifty 500 in 3 months. Earnings per share fell 8% in the last 12 months.
• Oil & Natural Gas Corpn -3.4 points against the Nifty 500 in 3 months. Earnings per share up 21% in the last 12 months. Next to check, from the August 2026 call: KG-98/2 technical study and oil development strategy.
• Indian Oil Corporation -2.8 points against the Nifty 500 in 3 months. Earnings per share up 99% in the last 12 months. Next to check, from the August 2026 call: Completion of the Panipat, Gujarat and Barauni expansions.
• Mahanagar Gas -1.1 points against the Nifty 500 in 3 months. Earnings per share fell 33% in the last 12 months. Next to check, from the July 2026 call: Industrial and commercial price received versus alternate fuels.
• Bharat Petroleum Corporation -0.8 points against the Nifty 500 in 3 months. Earnings per share fell 1% in the last 12 months.
• Veedol Corporation -0.8 points against the Nifty 500 in 3 months. Earnings per share up 21% in the last 12 months.
• Gujarat Natural Resources -0.1 points against the Nifty 500 in 3 months.

This page does not track prices during the day. For today's moves, see the exchange.

Weekly data to 9 October 2026. Reasons from company calls and the industry research, refreshed every month

9 of the 31 oil and gas stocks with a P/E history trade above their own usual P/E (P/B for lenders), 1 sits exactly at it, and 21 below. The furthest below their own history are Gujarat Gas (-37%), Indraprastha Gas (-37%) and Veedol Corporation (-37%).

"Usual" = each company's own long-run median. Valuation as of 17 October 2026, no price targets

NSE's Nifty Energy index has 40 companies. 14 of them are oil, gas and fuel companies, and 13 of those are on this list. Coal India is left out, for the reason below. The other 26 are power and power equipment companies, listed on the power stocks page.

Coal India is in the index but not on this list because it mines coal, not oil or gas.

NSE's own member file, read on 17 October 2026. Checked every week

2 of the 32 oil and gas stocks trade under ₹100 a share: Confidence Petroleum India (₹81.5) and Gujarat Natural Resources (₹95.5). By size, 5 are large cap, 5 are mid cap and 22 are small cap.

Oil and gas stocks under ₹100

A low share price says nothing about how big the company is. Market cap shows the size.

Size = rank by market value across every company we score: the top 100 are large cap, the next 150 mid cap, the rest small cap. Updated every weekend

The highest dividend yields among oil and gas stocks are Hindustan Petroleum Corporation (7.0%), Indian Oil Corporation (6.3%) and Oil & Natural Gas Corpn (6.0%). 26 of the 32 paid a dividend in the last year.

Yield = last year's dividend divided by today's price. It moves with the price. Updated every weekend

None of the 4 industries behind this list was in the industry research run of 10 October 2026. At the 9 October 2026 scan, 19 of the 32 oil and gas stocks beat the Nifty 500 by 5 points or more over 3 months.

Industry research is refreshed every two weeks

The top 10 oil and gas stocks for October 2026 are: 1. Antelopus Selan Energy, 2. Savita Oil Technologies, 3. Petronet LNG, 4. Gandhar Oil Refinery, 5. Chennai Petroleum Corporation, 6. Deep Industries, 7. Castrol India, 8. Aegis Logistics, 9. Veedol Corporation, 10. Dolphin Offshore Enterprises. Companies worth ₹2,000 crore or more are scored every month.

Why each one made the top 10

• Antelopus Selan Energy: Score 86 of 100. 41.1 points ahead of the Nifty 500 over 3 months. Watch: earnings per share fell 10% in the last 12 months.
• Savita Oil Technologies: Score 80 of 100. Earnings per share up 224% in the last 12 months. 32.2 points ahead of the Nifty 500 over 3 months.
• Petronet LNG: Score 77 of 100. Earnings per share up 14% in the last 12 months. 10.8 points ahead of the Nifty 500 over 3 months. Volume 22.5 million tonnes a year at Dahej on the August 2026 call. Record profit leaned on ₹301 crore and ₹193 crore of trading and stock gains. Watch: Gas handled fell to 207 from 220 units and underlying profit fell.
• Gandhar Oil Refinery: Score 76 of 100. Earnings per share up 299% in the last 12 months. 52.3 points ahead of the Nifty 500 over 3 months. Next to check, from the September 2026 call: the year to March 2027 volume growth to track the stated range. Watch: The latest profitability print is clean of identified one-offs, but the margin is far above the calculated mid-cycle level.
• Chennai Petroleum Corporation: Score 75 of 100. 32.3 points ahead of the Nifty 500 over 3 months.
• Deep Industries: Score 74 of 100. 66.7 points ahead of the Nifty 500 over 3 months.
• Castrol India: Score 73 of 100. Earnings per share up 11% in the last 12 months. 12.2 points ahead of the Nifty 500 over 3 months. Next to check, from the August 2026 call: Inventory profile. Watch: The 43% June profit jump leaned on one time lower cost stock.
• Aegis Logistics: Score 67 of 100. Earnings per share up 89% in the last 12 months. 17.8 points ahead of the Nifty 500 over 3 months. Customer additions and integrated procurement provide an operating explanation for the earnings increase. Watch: The 7,000 rupee per tonne distribution margin could fall back toward 4,000.
• Veedol Corporation: Score 62 of 100. Earnings per share up 21% in the last 12 months. Watch: the share is 0.8 points behind the Nifty 500 over 3 months.
• Dolphin Offshore Enterprises: Score 58 of 100. Earnings per share up 43% in the last 12 months. 72.5 points ahead of the Nifty 500 over 3 months. Refurbished vessel activity provides an identifiable operating mechanism for the revenue recovery. Watch: the P/E is 90% above its own long-run usual.

See the September 2026 top 10.

Ranked on October 2026 data, refreshed every month

This page uses weekly closes, not live prices. In the week to 9 October, 10 of the 29 oil and gas stocks with a clean price record closed higher and 19 closed lower. The biggest weekly gains were Chennai Petroleum Corporation (+10.5%), Gandhar Oil Refinery (+4.9%) and Savita Oil Technologies (+4.8%).

"Passes weekly test" below means a 3-month return at least 5 points above the Nifty 500, checked at each weekly scan.

Oil and gas stocks beating the Nifty 500, week by week

Weekly closes, week to 9 October 2026 against the week to 1 October 2026. Updated every weekend

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