This oil PSU wants to double capex in three years – 8 May 2025

The problem with Indian oil PSUs is that they have all the money in the world

And not enough projects in hand to push capex limits up. Many companies, ONGC is one, have the same capex as they had 10 years ago, and when you include inflation, the capex is in fact down dramatically.

IOCL has indeed doubled its capex over a 10 year period, but today, at Rs 38,000 crore, it can push far more capex than this level

Here is this oil PSU however that says it will double its capex in three years, and provides a road map for it

That is commendable indeed