“…The main challenge here is that technologies are typically proprietary and mainly where an Indian oil company is the patent-holder – buying ownership of such technology is likely to be prohibitively expensive (Naik, 2014). The major domestic players include Indian Oil Corporation, Hindustan Petroleum Corporation Limited, Bharat Petroleum Corporation Limited, Oil and Natural Gas Corporation, Reliance Industries Limited, etc., and one major concern apart from the structure and regulations is the pricing of the energy commodities (Chakrabarti and Arora, 2016). Now, the presence of major foreign companies such as BP, Shell, Cairn, British Gas, Essar, BG Group, Chevron, Total and Gaze de France, which have engaged in various upstream, midstream, and downstream activities such as production, refining, exploration, pipelines, and marketing is making energy sector competitive.…”