Petrochemicals have a massive role in society. Even though we might not be aware of it, petrochemicals play a significant role in our daily lives. Petrochemicals play a fundamental part in many aspects of our daily lives, including the carpets we use to adorn our houses, the clothes we wear, plastic bottles, fertilisers we use to produce crops, tyres, paints, medications, cosmetics, and more. Therefore, today many petrochemical companies in India are expanding and establishing a big market for this business.
It comprises hydrocarbons that are byproducts of the processing of natural gas and crude oil downstream. It is widely used in many sectors, including agriculture, construction, packaging, automotive, plastic, and personal care. Let’s see some of the top petrochemical companies in India in this article and learn more about them in detail.
|Indian Oil Corporation (IOL)
|Reliance Petroleum Ltd. (RPL)
|Finolex Industries Ltd.
|Dhunseri Ventures Ltd.
|Savita Oil Technologies Ltd.
|INEOS Styrolution India Ltd.
|Supreme Petrochem Ltd.
|Manali Petrochemicals Ltd.
Reliance Petroleum is the biggest name when it comes to petrochemical companies in India. This business, which specialises in oil and energy, is owned by Mukesh Ambani, one of the richest people on the planet. One of the largest private sector corporations in India is thought to be the parent company, Reliance Industries Limited (RIL). In Ahmedabad, Gujarat, where the company’s headquarters are situated, the majority of Reliance Petroleum’s work is completed on the ground. The corporation currently employs over 400,000 people and has a $5 billion profit overall. The successful merger of Reliance Petroleum and RIL took place on February 29, 2009.
DD KG-1 and DD KG-2, where DD refers to Dhirubhai Deepwater, are two oil rings that Reliance Petroleum has long-term chartered. Deepwater Pacific Inc., a Transocean company, has owned both of these drilling ships since they were built, and they are both registered in the Marshall Islands. The largest oil refinery in the world, according to Reliance Petroleum, has an annual crude capacity of 1,240,000 barrels per stream day. In addition to this, a new refinery project is also being carried out, with a capital cost of Rs 270,000,000,000 being funded by a combination of loans and numerous equity investments. Undoubtedly making it is one of the biggest petrochemical companies in India and the world.
Indian Oil Corporation is the top-ranked energy PSU in the nation according to the Fortune 500. (Rank-142). The business generated revenue of Rs 7,28,460 crores in 2021–2022. Moreover, IOC’s fiscal year 2021–2022 net profit was Rs 24,184 crores. With the largest consumer interface in India, the business can access every nook and cranny of the Indian continent. IOC now has over 56,000 consumer touchpoints spread out around the nation, including places where it must contend with obstacles including difficult terrain, high altitude, harsh weather conditions, and accessibility.
The reason why it stands in the list of petrochemical companies in India; is because, with a Group Refining Capacity of 80.55 MMTPA, IOC’s marketing network is strengthened. The business has also constructed a 15,000 km pipeline that runs across the country. The IOC research and development facility in Faridabad is reputed to be one of Asia’s best for downstream petroleum R&D, according to the most recent studies. Moreover, the world-class technology and process solutions offered by this R&D centre provide this company with a competitive advantage.
In the 1990s, the Indian state of West Bengal saw the formation of Haldia Petrochemicals Ltd which today stands as one of the biggest petrochemical companies in India. About 125 miles from Kolkata, the capital of West Bengal, it was the first integrated petrochemical complex to open in Haldia. HPL started producing in 2000, and throughout the years, the firm quickly increased its capacity from 420 KTA to 700 KTA. Being the first foreign wholly-owned subsidiary of an Indian petrochemical corporation, the business established HPL Global Pte Ltd in Singapore in 2016. Moreover, in collaboration with Rhone Capital, Haldia Petrochemicals also bought a majority of 57% of the Lummus Technologies company from McDermott International Inc.
Lummus Technologies is worth $2.725 billion in total, which is equal to Rs 20,590 crores. This agreement’s primary goal is to advance HPL’s position in the field of material technology. With the partnership with Lummus, technology HPL is also considering upstreaming investments in its chemical and oil industries. In 2022, HPL made headlines when it announced plans to buy Coastal Oil & Gas Infrastructure Pvt Ltd. for just one crore more than the company’s liquidation value.
The renowned HC Kothari group includes Kothari Petrochemicals Ltd. They are among the top petrochemical companies in India and produce related goods in addition to being the leading producer of high-quality polybutenes. Together with RIL and IOCL, it also gained a spot on India’s Fortune 500 list. The organisation has remained one of the leading businesses since its founding year and has had strong profit returns. It has locations in Mumbai, Manali, and Chennai as well.
Working with automated equipment has been updated by the state-of-the-art facility. The Cosden technology is how it operates. Also, they make their goods with an eye on minimising environmental harm. The lubricants are the best among the competition and are user- and eco-friendly. With over 1200 specialists operating the company, it is also the most prestigious brand in India.
A public sector manufacturer of fuel and natural gas, GAIL Petrochemicals is based in New Delhi, India. It is a state-owned organisation that reports to the Indian government and stands as one of the biggest petrochemical companies in India. The LPG and petrochemicals segment is one of its 8 business divisions. It was first established as a subsidiary of the Ministry of Petroleum and Fuel Gas and is currently India’s leading transmission and marketing firm for fuel gas and petroleum. GAIL hosted the largest cross-country gas pipeline project successfully. It holds the distinction of being the most organic pipelining transport enterprise in the nation, with trunk pipes that span around 10,600 kilometres.