Q1 results: Indian Oil capex at Rs 85 Bn
OIL & GAS

Q1 results: Indian Oil capex at Rs 85 Bn

Indian Oil Corporation spent about Rs 85 billion and ONGC Rs 80 billion in capital expenditure in the first quarter of this financial year, utilizing around a quarter of their annual spending budget. State-run oil companies collectively have a capex target of Rs 11,850 billion for 2024-25. They spent Rs 265 billion in the April-June quarter, which is about 22% of their annual target, according to data from the petroleum and natural gas ministry. Indian Oil Corporation and ONGC outpaced the average for state-run oil companies, with spending rates of 27% and 26% respectively.

Hindustan Petroleum Corporation, GAIL, Oil India, and Bharat Petroleum Corporation were slower spenders, with rates of 21%, 19%, 18%, and 12% respectively, thereby lowering the average for state oil firms. Refiners Indian Oil, Hindustan Petroleum, and Bharat Petroleum are investing in various projects including refinery expansions, petrochemical and biofuel plants, pipelines, depots, and natural gas distribution infrastructure.

A significant portion of Hindustan Petroleum's investment is directed towards its greenfield refinery in Barmer, which has experienced substantial cost escalations. ONGC and Oil India primarily focus their expenditures on exploration and production.       

Indian Oil Corporation spent about Rs 85 billion and ONGC Rs 80 billion in capital expenditure in the first quarter of this financial year, utilizing around a quarter of their annual spending budget. State-run oil companies collectively have a capex target of Rs 11,850 billion for 2024-25. They spent Rs 265 billion in the April-June quarter, which is about 22% of their annual target, according to data from the petroleum and natural gas ministry. Indian Oil Corporation and ONGC outpaced the average for state-run oil companies, with spending rates of 27% and 26% respectively.Hindustan Petroleum Corporation, GAIL, Oil India, and Bharat Petroleum Corporation were slower spenders, with rates of 21%, 19%, 18%, and 12% respectively, thereby lowering the average for state oil firms. Refiners Indian Oil, Hindustan Petroleum, and Bharat Petroleum are investing in various projects including refinery expansions, petrochemical and biofuel plants, pipelines, depots, and natural gas distribution infrastructure.A significant portion of Hindustan Petroleum's investment is directed towards its greenfield refinery in Barmer, which has experienced substantial cost escalations. ONGC and Oil India primarily focus their expenditures on exploration and production.       

Next Story
Resources

Madhya Pradesh Champions Inclusive Tourism at Heritage Sites

On the occasion of World Heritage Day, Madhya Pradesh is taking a significant step toward inclusive tourism by making its historical sites accessible to all — especially persons with disabilities. The state is rolling out its ‘Accessibility Infrastructure and Development’ project at Maheshwar, Mandu, Dhar, and Orchha, aiming to create a more welcoming experience at these iconic cultural destinations.The initiative, under the leadership of Chief Minister Dr Mohan Yadav and Tourism Minister Shri Dharmendra Bhav Singh Lodhi, includes infrastructure upgrades such as ramps, Braille signage, w..

Next Story
Resources

Runwal Realty Onboards Sonam Kapoor as Brand Ambassador

Real estate major Runwal has unveiled a refreshed identity as Runwal Realty, signalling a renewed commitment to crafting spaces that stand the test of time. With this refresh, the brand unveils its new philosophy: “Building for Generations to Come” and welcomes Bollywood star and global fashion icon Sonam Kapoor as its brand ambassador. This evolved identity reflects Runwal Realty’s commitment to creating not just homes, but heirlooms—crafted through visionary design, meticulous planning, global design expertise and an unwavering focus on quality. With the customer at its core, each de..

Next Story
Infrastructure Urban

Emerging Trends in Infrastructure and Transport 2025: KPMG

KPMG’s latest report, The Great Reset: Emerging Trends in Infrastructure and Transport 2025 edition, sheds light on the profound changes transforming the global infrastructure landscape. As industries adapt to the challenges posed by climate change, economic pressures, and technological advancements, the report identifies key trends and provides actionable insights for leaders in infrastructure and transport sectors. “In today’s interconnected world, the lack of standardized supply chain practices is not just an operational challenge—it’s an environmental and economic one. We’..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?