What are Oil Marketing Companies - Public & Private? Their Roles in India

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India's oil demand is expected to increase 50% by 2030 compared to 7% growth for global demand.
Marketing division is responsible for administration of marketing and distribution of downstream petroleum products. It also oversees the pricing of regulated petroleum products. Public sector Oil Marketing Companies (OMCs) i.e. Indian Oil Corporation Ltd. (IOCL), Hindustan Petroleum Corporation Ltd. (HPCL) and Bharat Petroleum Corporation Ltd. (BPCL) do the retail marketing and distribution of petroleum products under the administrative control of this division. Monitoring the pricing of petroleum products and subsidy related decisions comes within the purview of marketing division. The division administers policy issues related to retail outlets, gas dealerships, LPG subsidy and kerosene subsidy schemes.
IOCL - It is the largest oil company and one of the top oil marketing companies in India. Founded in the year 1959, headquartered in New Delhi, India. This company is the world's 88th largest company as per the Fortune Global 500 list, and the largest category of a public corporation in India when ranked by revenue. Indian Oil Corporation is an oil and gas company that operates the largest and most extensive network of fuel stations all over India. It offers a range of products, fuels, lubricants, petrochemicals. It is making good worth with 35000 employees having 28 billion dollar turnover. It is another public sector undertaking and has its business spread across the globe. It also has its subsidiaries in Sri Lanka, Mauritius, and UAE
BPCl - Bharat Petroleum Limited is India's second-largest oil and gas company, headquartered in Mumbai, Maharashtra. The corporation operates two large refineries in the country located at Mumbai and Kochi. It has four refineries-
Mumbai refinery
Kochi refinery
Rina refinery
Numaligarh refinery
The company's production involves the finest quality oil, gas, and petroleum products. It belongs to the public sector category with 14000 + employees. This huge refinery has a turnover of 40 billion dollars. It is also another undertaking of the government of India.
HPCl - HPCL is a public sector company whose head office is located in Mumbai. It has been ranked 4th among India's companies for the year and ranked 260 in the Fortune global 500 rankings of the biggest corporations of the world. The government of India owns 51.11% of this leading oil marketing company. This oil and gas company is Navratna. It is the best petrol company in India. PSU of Indian government contributing to refining and marketing of petroleum-based products. It holds 3 refineries and possesses an extensive network of petrol pumps as well as LPG distributors. The company has more than 18,000 employees and a business turnover of 8 million dollars. It has a nearly 20% market share in the country among PSUs as well as holds a strong marketing infrastructure. #examrace #upsc #ugcnet