NEW DELHI: State-owned Oil and Natural Gas Corp (ONGC) plans to invest over Rs 33,065 crore next fiscal in exploration and production of oil and gas, a 5 per cent increase over capital expenditure in 2011-12.
ONGC will invest Rs 33,065.31 crore in 2012-13 as compared to Rs 31,316 crore capex for current fiscal, according to 2012-13 Budget documents.
All of this expenditure will be funded by ONGC from its internal resources.
State refiner Indian Oil Corp (IOC) has scaled down its capex for next fiscal to Rs 10,000 crore as against a spending of Rs 11,000 crore in current year. Next year’s spending includes Rs 8,900 crore on its core refining and marketing business and Rs 650 crore in oil and gas exploration. The remaining Rs 450 crore would be spent on petrochemicals business.
Gas utility GAIL India Ltd has planned a capital expenditure Rs 9,446.77 crore next fiscal as against Rs 6,878.96 crore in current year. Next year’s spending includes Rs 5,866.77 in its core gas transmission and marketing business and another Rs 3,850.50 crore on its petrochemical expansion.
Bharat Petroleum Corp Ltd (BPCL) has planned a capex of Rs 4,479 crore while Hindustan Petroleum Corp Ltd (HPCL) will be spending Rs 3,467.43 crore. This is as compared to Rs 2,199 crore capital expenditure by BPCL and Rs 2,828.35 crore by HPCL during current fiscal.
Mangalore Refinery and Petrochemical Ltd (MRPL) has project a capital outlay of Rs 6,817 crore next fiscal.
The total plan outlay for petroleum sector increased to Rs 79,727.88 crore in 2012-13 as opposed to Rs 69,882.71 crore in the previous year.