State oil companies have planned a capex of Rs 87,000 crore, or $13 billion, in 2017-18 to develop oil and gas fields, expand refining capacity, and build pipelines.
Oil and Natural Gas Corp (ONGC) plans to invest Rs 30,000 crore, the maximum among all state oil firms. This is slightly higher than the company’s spending of about Rs 28,000 crore in 2016-17. GAIL, HPCL, Mangalore Refinery and Numaligarh Refinery have also planned to spend more this year than they did last year, but others will spend less, making the total capex nearly a fifth less than the last fiscal year’s Rs 106,000 crore. Read more
Latest posts by The Economic Times (see all)
- Centre Rejigs PPA, Takes The Wind Out Of State Discom Bullies – August 17, 2017
- IGL Expects Rs 150 Crore Annual Revenue From Gurgaon City Gas Services – August 15, 2017
- Nitin Gadkari Launches Several Highway Projects To Decongest NCR – August 15, 2017