Oil & Gas

Concerned with the decline in domestic production by ONGC (tables 5 & 6), the government is pushing the central PSUs to increase their investments. Twelve PSUs collectively have planned to invest Rs 555,840 crore in the next five years. This is led by Indian Oil Corporation Ltd (IOCL) with planned investment of Rs 175,000 crore followed by ONGC’s Rs 150,473 crore (table 7) even though the profits of both the PSUs are on decline.