State-run oil companies plan to spend Rs 1.11 lakh crore in the next financial year, with capex targets for ONGC, Indian Oil Corporation, BPCL and HPCL remaining at the same level as this year.
The capex plan for 2022-23 is 6% higher than the current year target of Rs 104,620 crore, as per the budget document. Until December, the companies had spent two-thirds of their combined spending target for the current year, according to the Oil Ministry data.
