In 2013-14, Oil and Natural Gas Corp (ONGC) plans to invest Rs 35,049.23 crore, which is 4 per cent higher than the revised capital expenditure of Rs 33,577 crore in the current fiscal year, Union Budget document shows.
The state-run oil and gas explorer plans to fund the investment entirely through internal resources in 2013-14. The nation’s largest explorer had originally proposed to invest Rs 33,065.31 crore in 2012-13 which it during the course of the year revised it to Rs 33,577 crore.
Meanwhile, the budget proposed to increase the total plan outlay for petroleum sector to Rs 79,052.17 crore in 2013-14, from the revised capex estimate of Rs 76,850.14 crore for the current year.
The budget estimated capex was Rs 79,727.88 crore in 2012-13, which was revised downward during the course of the year.
During 2013-14, Gas utility GAIL India planned capital expenditure of Rs 7,511.50 crore, as against Rs 6,738.77 crore in current year. Next year’s spending includes Rs 4,376.50 in its core gas transmission and marketing business and another Rs 3,135 crore on its petrochemical expansion.
Bharat Petroleum Corp (BPCL) has planned a capex of Rs 3,521 crore, while Hindustan Petroleum Corp (HPCL) will be spending Rs 3,724.84 crore.