India State Oil Companies May Spend $11.7 Billion on Expansion

Indian state-run oil and gas companies may spend 574.8 billion rupees ($11.7 billion) this year to increase production capacity and refining, the government said.

Explorers and producers led by Oil & Natural Gas Corp., the nation’s largest, have the Planning Commission’s approval to invest 387.3 billion rupees in the year ending March, Jitin Prasada, the junior oil minister, said in the lower house of parliament in New Delhi today.
Asia’s third-largest energy consumer wants to accelerate exploration and production of oil and gas and add refining capacity to help meet demand for fuels.

Bloomberg