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Abstract
The oil & gas sector is among the six core industries in India and plays a major role in influencing the decision making for other important sectors of the economy. The industry includes the companies which produce and deliver oil, oil products and natural gas. In this paper an attempt has been made to analyze the financial performance public and private sector oil and gas companies for the period from 2006 to 2015. It has been found that private sector firms are reported with relatively high liquidity, high solvency and low asset management efficiency against the public sector firm for the entire period of the study. In terms of profitability, private sector firms are almost similar to public sector firms.