Top Oil and Gas Companies Stocks to Invest in India in 2023

Hindustan Oil Exploration Company

Hindustan Oil Exploration Company (HOEC) is an Indian oil and gas exploration and production company with a focus on both onshore and offshore activities. The company is involved in exploring and developing hydrocarbon resources in India and internationally. HOEC’s operations encompass exploration, drilling, and production of crude oil and natural gas.

As an independent upstream player, HOEC’s stock might attract investors interested in the exploration and production segment of the oil and gas industry. The company’s efforts in discovering new reserves and optimizing existing fields contribute to its significance in India’s energy landscape.

Investors considering HOEC’s stock should analyze factors such as the company’s financial performance, exploration projects, regulatory environment, and market trends in the oil and gas sector. Given the company’s focus on exploration and production, its stock may offer potential opportunities for those looking to invest in India’s hydrocarbon resources.

• Market Cap₹ 2,259 Cr.
• Current Price₹ 171
• High / Low₹ 258 / 116
• Stock P/E9.41
• Book Value₹ 71.6

Deep Energy Resources, represented by Deep Industries Ltd., is a prominent entity in the oil and gas sector. The company holds a diversified portfolio encompassing drilling, work-over operations, air and gas compression, oil and gas exploration, and production. With a pioneering presence in the service sector of the oil and gas industry, it is particularly acclaimed for its expertise in gas compression services.

Deep Industries also excels in turnkey contract compression, offering comprehensive solutions including equipment provision, commissioning, installation, and maintenance of gas engine-driven compressor packages. The company has formed valuable partnerships with esteemed entities like Valerus Compression Services from Houston, Texas, and Hanover Company from the USA, ensuring the supply of cutting-edge gas compressor packages within India. Additionally, they offer technical support across various domains within the oil and gas industry.

• Market Cap₹ 385 Cr.
• Current Price₹ 120
• High / Low₹ 154 / 78.8
• Stock P/E216
• Book Value₹ 125

Reliance Industries

Reliance Industries Limited, headed by India’s richest person Mukesh Ambani, is a diversified conglomerate with interests spanning petrochemicals, refining, telecommunications, retail, and digital services. Reliance’s stock remains a focal point for investors looking to gain exposure to various sectors under a single entity.

The conglomerate’s operations encompass refining, exploration and production of oil and gas, petrochemicals manufacturing, and retail ventures. Its strategic partnerships, technological innovations, and ambitious growth strategies contribute to its significance in India’s business landscape.

Investors considering Reliance’s stock should assess factors such as the company’s financial performance, its leadership in various industries, regulatory developments, and market trends. With its widespread presence and ongoing efforts to drive India’s digital transformation, energy self-sufficiency, and consumer markets, Reliance Industries’ stock presents potential opportunities for investors looking to align with India’s economic growth trajectory.

• Market Cap₹ 17,29,830 Cr.
• Current Price₹ 2,557
• High / Low₹ 2,632 / 2,000
• Stock P/E26.8
• Book Value₹ 1,058

Jindal Drilling & Industries Ltd. is a notable player in India’s oil and gas sector, primarily specializing in drilling services for oil and gas exploration and production. The company’s stock might interest investors looking for exposure to the upstream segment of the industry.

Jindal Drilling’s operations encompass offshore drilling services, including well drilling, work-over operations, and other related activities. The company’s expertise and experience in providing drilling solutions contribute to its significance in India’s oil and gas landscape.

Investors considering Jindal Drilling’s stock should analyze factors such as the company’s financial performance, its presence in the drilling services market, offshore exploration trends, and regulatory environment in the oil and gas sector. With its focus on offering specialized drilling solutions, Jindal Drilling’s stock may offer potential opportunities for those seeking exposure to India’s exploration and production activities in the energy sector.

• Market Cap₹ 1,389 Cr.
• Current Price₹ 479
• High / Low₹ 493 / 213
• Stock P/E17.6
• Book Value₹ 452

Petronet LNG Limited is a leading player in India’s liquefied natural gas (LNG) sector, known for its role in importing, regasifying, and distributing LNG. The company’s stock might interest investors looking for exposure to the growing demand for cleaner energy sources.

Petronet LNG’s operations encompass importing LNG, regasification, and distribution to various sectors, including power generation, industrial use, and transportation. The company’s role in diversifying India’s energy mix and contributing to environmental sustainability adds to its significance.

Investors considering Petronet LNG’s stock should analyze factors such as the company’s financial performance, market trends in the natural gas sector, government policies supporting LNG adoption, and broader energy transition dynamics. With natural gas being recognized as a transition fuel towards cleaner energy, Petronet LNG’s stock presents potential opportunities for those interested in India’s changing energy landscape.

• Market Cap₹ 32,888 Cr.
• Current Price₹ 219
• High / Low₹ 242 / 196
• Stock P/E9.88
• Book Value₹ 99.6

Selan Exploration Technology Limited is an Indian company operating in the oil and gas exploration and production sector. It specializes in identifying and extracting hydrocarbon reserves to contribute to India’s energy needs. The company’s stock might attract investors seeking exposure to the upstream segment of the oil and gas industry.

Selan Exploration’s operations encompass exploration, drilling, and production of crude oil and natural gas. Its expertise in efficient and responsible resource extraction contributes to its significance in India’s energy landscape.

Investors considering Selan Exploration’s stock should analyze factors such as the company’s financial performance, exploration projects, regulatory environment in the oil and gas sector, and market trends. Given the company’s focus on hydrocarbon exploration and production, its stock may offer potential opportunities for those looking to invest in India’s energy security and resource development.

• Market Cap₹ 520 Cr.
• Current Price₹ 342
• High / Low₹ 386 / 191
• Stock P/E19.4
• Book Value₹ 237

Asian Energy Services

Bharat Petroleum Corporation Limited (BPCL) is a major player in India’s oil and gas sector, with interests spanning refining, marketing, and distribution of petroleum products. As a government-owned enterprise, BPCL’s stock might attract investors looking for exposure to the downstream segment of the industry.

BPCL’s operations encompass refining crude oil into various petroleum products, including fuels, lubricants, and petrochemicals. The company’s extensive distribution network and strategic focus on meeting India’s fuel demand contribute to its significance in the energy landscape.

Investors considering BPCL’s stock should analyze factors such as the company’s financial performance, market trends in the downstream sector, government policies affecting the industry, and broader economic conditions. With BPCL’s role in ensuring fuel supply and energy security, its stock may offer potential opportunities for those looking to invest in India’s energy consumption patterns.

• Market Cap₹ 76,553 Cr.
• Current Price₹ 353
• High / Low₹ 398 / 288
• Stock P/E3.76
• Book Value₹ 247