4 Crude Oil Stocks in India to Add to Your Watchlist

#1 ONGC - Crude oil Production

First on the list is ONGC.

As a Maharatna company, ONGC stands as the largest crude oil and natural gas producer in India, accounting for roughly 71% of the country's domestic production.

What sets it apart is its in-house service capability across the entire exploration and production value chain, covering oil-field services end to end.

Beyond its domestic operations, ONGC also has a solid international footprint through its wholly owned subsidiary, ONGC Videsh, which manages oil and gas assets in several countries.

On the downstream side, the company holds stakes in Mangalore Refinery and Petrochemicals Limited (MRPL) and Hindustan Petroleum Corporation Limited (HPCL), extending its reach into refining, petrochemicals, fuel marketing, and petroleum product distribution.

This combination of scale, in-house expertise, and diversified exposure across the value chain is what makes ONGC one of the key crude oil stocks to watch in India.

Looking ahead, ONGC Videsh's Mozambique LNG project is progressing steadily, with close to 6,000 personnel currently working on-site. The company expects the project to reach LNG production by the end of 2028, assuming execution stays on track.

For more details, see the ONGC company fact sheet and quarterly results.

#2 Indian Oil Corporation - Crude Oil Refining

Next on the list is Indian Oil Corporation.

A Maharatna Enterprise under the Ministry of Petroleum and Natural Gas, Indian Oil has built a strong presence across nearly the entire hydrocarbon value chain - refining, pipeline transportation, marketing, exploration and production, petrochemicals, natural gas, and alternative energy.

With a group refining capacity of 80.75 MMTPA, a pipeline network stretching over 20,000 km, and more than 63,000 customer touchpoints, Indian Oil plays a central role in ensuring reliable energy access across the country.

It continues to lead the fuel marketing space too, holding the largest market share in petroleum products like Petrol, Diesel, LPG, and Aviation Turbine Fuel.

The company is also among the largest petrochemical players in India, with a production capacity of 3,315 KTA, supplying value-added products to industries both domestically and globally.

In natural gas, Indian Oil ranks as the second-largest player in the segment, serving 49 geographical areas across 115 districts and bringing clean energy to homes, transport, and industry alike.

With its refining scale directly tied to processing crude oil into fuels and petrochemical products, Indian Oil earns its place as one of the key crude oil stocks to watch in India.

For more details, see the IOC company fact sheet and quarterly results.

#3 Shipping Corporation of India - Crude Oil Transportation

Next on the list is Shipping Corporation of India.

Starting as a modest liner shipping company with just 19 vessels, SCI has since grown into the largest shipping company in India, with substantial interests across various segments of the shipping trade.

Its owned fleet spans bulk carriers, crude oil tankers, product tankers, container vessels, passenger-cum-cargo vessels, LPG carriers, and offshore supply vessels.

SCI is India's largest tanker owner, operating a well-diversified fleet of crude oil tankers across all size categories, including MR, LR-I, LR-II, Aframax, Suezmax, and VLCC tankers.

Its Tanker Commercial Department manages the scheduling and deployment of these vessels to keep Indian oil refineries supplied with crude.

The company also carries out lighterage operations along the east and west coasts, helping ensure quick tanker turnarounds at ports that face size or berthing restrictions.

Beyond handling imported crude, SCI transports around 8-10 million tonnes of indigenous crude oil each year through coastal routes.

Given its central role in physically moving crude oil to India's refineries, SCI stands out as one of the key crude oil stocks to watch.

For more details, see the SHIPPING CORP company fact sheet and quarterly results.

#4 Jindal Drilling & Industries - Crude Oil Drilling

Next on the list is Jindal Drilling & Industries.

Part of the D.P. Jindal Group's Drilling Division, JDIL is one of the leading private sector companies in offshore drilling within India's oil and gas sector, with operations dating back to 1989.

With close to three decades of operational experience, the company is backed by a skilled and experienced staff and crew, offering deep expertise across various facets of the oil and gas industry alongside a strong track record of service quality.

JDIL's business is organized into three principal segments: offshore drilling for oil and gas, horizontal and directional drilling, and mud logging services.

Since drilling is the very first step in bringing crude oil out of the ground, JDIL's role in offshore exploration and production makes it a crude oil stock worth watching.

For more details, see the JINDAL DRILLING company fact sheet and quarterly results.

Conclusion

Crude oil stocks offer a way to gain exposure to one of the world's most closely watched commodities, and 2026 has certainly kept the sector in the spotlight given the ongoing US-Iran tensions and disruptions around the Strait of Hormuz.

Some segments tend to gain when crude prices rise, while refiners and downstream players can face margin pressure from higher input costs.

So the impact of oil volatility isn't uniform across the sector. Shipping and drilling companies add another layer, reacting more to shipping routes, tanker demand, and exploration activity than to crude prices alone.

That said, this is also a sector known for sharp price swings, tied closely to geopolitical developments, currency movements, and government fuel policy.

Whether crude oil stocks fit into your portfolio ultimately depends on factors like your risk tolerance, investment horizon, and how much exposure you already have to energy-linked sectors.

Disclaimer: This article is for information purposes only. It is not a stock recommendation and should not be treated as such. Learn more about our recommendation services here...