BPCL to raise capex by 42% to expands refining, petrochemical capacity
Bharat Petroleum Corporation Limited (BPCL) has increased its capital spending target for 2025-26 by 42% year-on-year to ₹18,500 crore as it expands its refining and petrochemical capacity.
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Oil and Natural Gas Corporation (ONGC) and Indian Oil Corporation, the top two spenders among state-run oil and gas companies, are set to maintain their capital expenditure in 2025-26 at around the same level as this year, according to the budget document.
IndianOil's capex plan of ₹35,293 crore next year is about ₹500 crore less than the capex this year, and ONGC's ₹34,900 crore is about ₹200 crore more than that this year.
BPCL plans to increase spending on refining and marketing by ₹4,000 to ₹13,000 crore next year as it aims to set up a greenfield refinery in Andhra Pradesh and expand capacity at its Bina refinery and petrochemical unit, a company executive said. Its investment in petrochemicals will increase by ₹1,500 crore to ₹3,500 crore next year, aided by spending on the polypropylene unit at Kochi Refinery.
GAILis set to reduce its capex 16% year-on-year to ₹8,377 crore, mainly due to a reduction in expenditure of ₹1,100 crore in petrochemicals. IndianOil's petrochemicals investment is set to reduce by ₹900 crore next fiscal. The overall investment in petrochemicals by state-run oil and gas companies is set to marginally reduce to ₹10,600 crore next year from ₹11,400 crore this year.
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