New Delhi, Feb. 25 -- The oil and gas industry in India is grappling with a complex crisis driven by global economic challenges, ineffective policy frameworks, and widespread structural issues within the sector. The Nifty Oil & Gas sector indices have fallen by 27% since August 2024. Following a peak intraday high of 13,607.20 on September 2, 2024, the sectoral indices have been on a downward slope.

Out of the 15 stocks in the Nifty Oil & Gas, only Indraprastha Gas (surged by 26.5%), Mahanagar Gas (rose by 13.9%), and Castrol (up by 9.5%) have shown positive performance over the last three months, while the remaining 12 stocks have recorded losses.

Among the laggards, Oil India leads with a decline of 27%, followed by GAIL with a drop o...