Oil & Natural Gas Corporation has stated that
it is currently spending an overwhelming majority of its capital expenditure on
its core activities -- oil exploration and production.
During 2004-05, ONGC has outlined a capital
expenditure of Rs.10,850 crore out of which 93 per cent would be spent on its
core activities. The residual minority (Rs.730 crore) would find its way into
integration activities like fuel retailing, LNG, petrochemicals and power
generation.
For the next fiscal year, 2005-06, ONGC has
planned a capital expenditure of Rs.10,740 crore of which only Rs.170 crore
would be invested in integration activities.