Indian state-run oil companies will spend 1.06 trillion Indian rupees ($12.95 billion) in the next fiscal year from April, a growth of about 27% from the revised estimates of this year, budget document shows.
India, the world's third-biggest oil importer and consumer, wants to unlock its hydrocarbon reserves to cut dependence on costly imports. India imports over 80% of its oil needs.
State refiners in Asia's third-largest economy are also expanding their refining and fuel retailing capacities to meet the country's growing fuel demand.
Nearly half of overall expenditure would be for refineries expansion and upgrade while about 44% will be used for exploration and production of hydrocarbons, the data provided in the budget documents shows.
The federal government would also provide 300 billion rupees in support to oil refiners and marketing companies for projects aimed at cutting emissions.
Recommended Reading
Midstream Moves to Forefront as Energy Stands on National Stage
2025-06-26 - As the midstream energy sector navigates the spotlight of national public attention, executives discuss how midstream operators are positioned in an era of change.
‘Nothing Says NY is On Board’: Williams Faces Pipeline Test, Again
2025-06-17 - Williams Cos. is moving forward with its previously abandoned Constitution and Northeast Supply Enhancement projects with White House support.
TC Energy Expects Spate of New Project Announcements Later This Year
2025-05-01 - Canadian pipeline operator TC Energy is forecasting an uptick in capital project announcements later this year and into next, as coal-to-gas conversions and data center growth drive natural gas demand in North America.
Recent M&A Primes ONEOK for AI, LNG, NGL Growth
2025-04-24 - ONEOK’s President and CEO Pierce Norton talks about his rapidly expanding company and the M&A grocery list the midstream company uses to explore additional growth opportunities.
ArcLight Closes $1.7B Deal with Brookfield for NGPL Interests
2025-05-13 - ArcLight Capital Partners has closed on its $1.7 billion deal with Brookfield Infrastructure, making the investment company the largest stake owner of the Kinder Morgan-operated Natural Gas Pipeline Co. of America.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.