The Institute shall perform the following functions, namely:—
         (i) nurture and promote quality and excellence in education and research in the area of petroleum and hydrocarbons and energy;
         (ii) provide for programmes and courses of instruction and research leading to the award of the Bachelors, Masters and Doctoral degrees in engineering and technology, management, sciences and arts in the area of petroleum and hydrocarbons and energy;
         (iii) grant, subject to such conditions as the Institute may determine, degrees, diplomas, certificates or other academic distinctions or titles at various academic levels to candidates who have attained the prescribed standard of proficiency as judged on the basis of examination or on any other basis of testing and evaluation and to withdraw any such degrees, diplomas, certificates or other academic distinctions or titles for good and sufficient reasons;
         (iv) confer honorary degrees or other distinctions and to institute and award fellowships, scholarships, exhibitions, prizes and medals;
         (v) lay down standards of admission to the Institute through an examination or any other method of testing and evaluation;
         (vi) manage the content, quality, design and continuous evaluation of its academic and research programmes in a manner that earns accreditation of an international stature;
         (vii) promote research and development for the benefit of oil, gas and petrochemical industry and the energy sector through the integration of teaching and research;
         (viii) foster close educational and research interaction through networking with national, regional and international players in the oil, gas and petrochemical industry and the energy sector;
         (ix) co-operate with educational and research institutions in any part of the world having objects wholly or partly similar to those of the Institute by exchange of teachers and scholars, conduct of joint research, undertaking sponsored research and consultancy projects, etc;
         (x) organise national and international symposia, seminars and conferences in the area of petroleum and hydrocarbons and energy;
         (xi) establish, maintain and manage halls, residences and hostels for students and to lay down conditions for residing in the halls and hostels;
         (xii) supervise, control and regulate the discipline of all categories of employees of the Institute and to make arrangements for promoting their health and general welfare;
         (xiii) supervise and regulate the discipline of students and to make arrangements for promoting their health, general welfare and cultural and corporate life;
         (xiv) frame Statutes and to alter, modify or rescind the same;
         (xv) deal with any property belonging to or vested in the Institute in such manner as the Institute may deem fit for advancing its objects;
         (xvi) receive gifts, grants, donations or benefactions from the Central Government and the State Governments and to receive bequests, donations, grants and transfers of movable or immovable properties from testators, donors, transferors, alumni, industry or any other person;
         (xvii) borrow money for the purposes of the Institute with or without security of the property of the Institute;
         (xviii) integrate new technology in the classroom to encourage student-centric learning strategies and the development of an attitude for learning;
         (xix) develop and maintain an information resource centre of print and non-print knowledge resources in the field of petroleum sector covering the entire hydrocarbon value chain as well as other related areas of energy, science and technology;
         (xx) provide for further education to the working professionals and other employees of the Institute in the advanced areas of technology relating to oil, gas, complete hydrocarbon value chain and energy;
         (xxi) offering customised programmes that serve the current and ongoing needs of working professionals for continuing education at the cutting-edge of petroleum and energy sector at the campus of the Institute or at company site;
         (xxii) encouraging industry to sponsor their staff to join the Institute for higher degrees and work on problems that interest the sponsoring industry thus helping develop deeper interactions and a research environment in the industry;
         (xxiii) fostering the creation of new basic knowledge and applied technology and its active transmission to companies for the benefit of the nation and for this purpose establishing an Intellectual Property Rights cell to patent the new developments made at the Institute and to license them nationally and internationally;
         (xxiv) being proactive in supporting the skill development programmes of the Government of India by training people in various related areas by way of certificate and diploma courses at the campus of the Institute or at other locations and involving industry in design and conduct of curricula;
         (xxv) giving broad focus to the functioning of the Institute in the area of petroleum and petroleum related technologies under the wide umbrella of energy; and
         (xxvi) doing all such things, not specifically covered above, as may be necessary, incidental or conducive to the attainment of all or any of the objects of the Institute.