India’s state-owned oil companies aim to sustain spending near a three-year high, encouraged by falling oil-services costs and expanding demand.
The country’s largest oil refiner Indian Oil Corp. will boost domestic spending by a quarter in the year to March 31 and smaller processor Hindustan Petroleum Corp. plans to invest about 17 percent more this year. Oil and Natural Gas Corp., the biggest explorer and top spender, plans to invest as much as last year. The 11 state-owned companies spent more than one trillion rupees ($16 billion) in the year ended March 31, the highest since 2014. Read More…
Credit By : NDTV
Latest posts by NDTV (see all)
- Suresh Prabhu Announces Out-of-turn Promotions For Women Cricketers – July 23, 2017
- India Will Decide Site Of Second Nuclear Plant Soon: Russian Official – July 20, 2017
- In A National First, This Delhi Train Gets A Big Makeover – July 20, 2017