Various media reports have put up the death toll at 12. Other reports suggest that there are at least six people trapped inside the building.
The army has been rushed in for rescue operations. However, the authorities are exuding very little confidence on their ability to control, if not douse, the fire.
The Petroleum Minister, Murli Deora has said that the fire will die out only after the fuel at the depot has burned out.
He has also ordered an inquiry into the incident.
12: 49 PM
Jaipur IOC fire still raging; 5 dead, 200 injured
At least five people have been killed and over 200 injured in a massive fire that erupted on Thursday, Oct 29 night in Indian Oil Corporation's fuel depot in Sitapura.
13 hours since the fire started shortly before midnight and the fire continues to rage, say latest media reports.
Over 35-fire fighter and 300 military men along with IOC experts were rushed in for rescue operations. Reports suggest that helicopters would also be used for the rescue work .
About hundred people who were critically injured in the mishap were taken to Sawai Man Singh Medical College Hospital and various other hospitals in the neighbourhood of the industrial area which is located on a highway.
Speaking on the accident, the Union Petroleum Minister Murli Deora said, "The fire is massive. We are finding it difficult to douse it."
About five lakh residents of about ten nearby villages, and inmates of hostels in 10 engineering and technical colleges and a medical college have been evacuated. The power supply to the surrounding areas have been cut off.
Two bodies have been recovered so far.