ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Nationalisation of Oil Companies in India

Saumitra Chaudhury Between 1974 and 1976, the Indian government fully took over the three foreign oil companies, Esso, Burmah-Shell and Caltex, all wholly owned subsidiaries of the largest oil multinationals, commonly known as the Oil Majors. The interesting thing about these takeovers has been the willingness with which the oil companies complied with the government's plans, a willingness quite contrary to what would normally have been expected from the Oil Majors, since in earlier periods these companies had put up stiff resistance to governmental 'interference' and consistently fought against attempts to break their monopoly over the Indian petroleum industry.
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