ONGC, IOC, other oil PSUs to invest Rs 1.2 lakh crore in FY25
ONGC, IOC, and other oil PSUs plan to invest Rs 1.2 lakh crore in oil and gas exploration, refineries, petrochemicals, and pipelines in the coming fiscal year. ONGC's capital spending will be Rs 30,800 crore, slightly higher than the previous year. OVL, ONGC's overseas arm, will invest Rs 5,580 crore abroad. IOC will invest Rs 30,910 crore, primarily in refinery expansion. BPCL plans to spend Rs 13,000 crore, while HPCL will invest Rs 12,500 crore.
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