+
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.       

Related Stories

Gold Stories

Next Story
Infrastructure Urban

Infrastructure Opportunity Outlook by IMPACCT.Info

India’s infrastructure pipeline is witnessing dynamic activity across stages — from immediate bidding to future planning. IMPACCT segments these into three categories: Immediate, 3–6 Month, and Future Opportunities, enabling businesses to identify, prepare, and participate in high-value tenders and projects across sectors.To read full article Click Here ..

Next Story
Real Estate

Glass, Reframed!

Glass façades, quintessential aesthetic building envelopes globally, have been widely adopted in India as well. But when the focus is high-performance building systems that deliver energy efficiency, comfort and architectural identity, glass isn’t the only preference. Combination solutions, involving glass and some other material, improve façade outcomes. Some combinations come at comparable prices, some at a higher price. Here is a selection of performance-oriented solutions...To read the full story Click Here ..

Next Story
Infrastructure Urban

Beyond Building Faster

India’s cities are expanding at an unprecedented pace, bringing new infrastructure and development opportunities while also intensifying challenges around mobility, public spaces, liveability and supporting infrastructure. The question, therefore, is not simply whether India can build faster, but whether it can build cities that work better.At a CW webinar, Are We Designing Better Cities – or Just Building Faster?, moderator Ar. Samir Shaikh, Founding Principal, AR&UD Studio, brought together perspectives from design, development, master planning and technology...To read the full artic..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code