4 oil & gas PSUs exceed capex targets, spend Rs 57,000 crore in FY21
Indian Oil, HPCL NSE -0.26 %, BPCL NSE -0.19 % and GAIL NSE 0.00 % spent a combined Rs 57,000 crore in 2020-21, exceeding their respective capex targets in a year lockdown curbed movement, drove away workers from project sites, and disrupted supply chains.
State-run oil and gas companies accelerated project execution in later months, mobilizing contractors, workers, and equipment to project sites after facing a serious slowdown in the initial months of the last fiscal year due to a nationwide lockdown imposed to stem the spread of Covid.
