Indian Institute of Petroleum and Energy (IIPE), Visakhapatnam, a domain-specific Institute at par with IITs and IIMs, is established by the Government of India under the aegis of the Ministry of Petroleum and Natural Gas (MoPNG) in the year 2016. The Indian Institute of Petroleum and Energy Act, 2017 (No.3 of 2018) enacted by the Parliament and declared the Institute as an 'Institution of National Importance'. IIPE has achieved this prestigious status by joining with the major oil and gas corporations such as HPCL, IOCL, ONGC, OIL & GAIL.