BPCL to Increase Capex by 42% to Rs 18,500cr for Refining, Petchem Biz

Bharat Petroleum Corporation (BPCL) plans to increase its capital expenditure by 42 percent to Rs 18,500 crore in 2025-26, focusing on refining, marketing, and petrochemicals expansion.

Key investments include a greenfield refinery in Andhra Pradesh and capacity expansion at its Bina refinery and petrochemical unit. While BPCL raises spending, other state-run oil companies will maintain or reduce their budgets. Oil and Natural Gas Corporation (ONGC) and Indian Oil Corporation (IOC) will keep their capex largely unchanged, with IOC planning Rs 35,293 crore and ONGC Rs 34,900 crore for 2025-26.

Hindustan Petroleum (HPCL) will cut capex by eight percent to Rs 11,500 crore as its Barmer refinery project nears completion. GAIL will reduce expenditure by 16 percent to Rs 8,377 crore, primarily due to lower petrochemical investments.

Indian Oil will also reduce petrochemical spending by Rs 900 crore next fiscal year. Oil India, however, will raise its capex by 14 percent to Rs 7,860 crore for exploration and drilling expansion.