India’s state-run oil and gas companies spent a combined Rs 46,600 crore in the first five months (April– August) of FY25, meeting 35 percent of their total annual capital expenditure (capex) target of Rs 1.32 lakh crore, according to data from the Ministry of Petroleum and Natural Gas.

Oil and Natural Gas Corporation (ONGC) led the spending with Rs 12,979 crore, targeting field redevelopment, enhanced recovery, and exploration. Indian Oil Corporation (IOCL) followed with Rs 10,860 crore, focusing on refining capacity expansion and gas infrastructure. ONGC and its subsidiaries, including ONGC Videsh, HPCL, and MRPL, together spent Rs 20,103 crore. Hindustan Petroleum is nearing completion of the Barmer refinery, while ONGC Videsh continues investing in overseas fields.

Bharat Petroleum (Rs 4,605 crore) and Oil India (Rs 4,424 crore) ranked next in spending. Oil India’s subsidiary Numaligarh Refinery spent Rs 2,547 crore to expand its refining capacity. GAIL (India) used Rs 3,853 crore of its Rs 8,377 crore capex target, focusing on pipeline expansion and petrochemicals.