State-run oil firms spend only a quarter of Capex target as pandemic delays projects

NEW DELHI: State-run oil companies have spent a quarter of their 2020-21 capex target in the first five months of the year as the pandemic decelerated project execution.

All state-run oil companies have together spent Rs 24,626 crore in five months through August, 25% of the total capital expenditure of Rs 98,522 crore planned for the current financial year, according to the Oil Ministry data.