They plan to spend INR1,11,000 crore in the current fiscal year. ONGC spent INR26,621 crore, against its budgeted expenditure of INR29,800 crore. Its overseas arm, ONGC Videsh, fell far short of its target.
State-run explorerONGCmissed its capex target by 11 per centwhile refinersIndianOil,BPCLand HPCL exceeded their respective targets for 2021-22, as per the oil ministry data. State-oil companies spent a combined INR1,04,600 crore, meeting their capex target for the year.
They plan to spend INR1,11,000 crore in the current fiscal year. ONGC spent INR26,621 crore, against its budgeted expenditure of INR29,800 crore. Its overseas arm, ONGC Videsh, fell far short of its target. Its expenditure of INR4,836 crore was just 58 per centof its annual target. Oil India, the smaller state-run explorer, spent INR4,239 core, against a target of INR4,108 crore.
