Completing Rs 97k cr projects, oil and gas PSUs achieve 83 pc capex target
Chennai: In the past ten years, 379 projects with a total cost of Rs 4.86 lakh crore have been completed in the oil and gas sector. Having completed over Rs 97,000 crore valued projects, the oil and gas public sector enterprises have achieved 83 per cent capex target in the current financial year.
Since 2014, 379 projects with an investment of Rs 100 crore and above have been completed. Of the total cost of 4.86 lakh crore, 225 projects costing Rs 2.52 lakh crore are greenfield projects and 154 projects costing Rs 2.34 lakh crore are brownfield projects, the government informed Lok Sabha.
Further, around 145 projects with an approved project cost of Rs 5.65 lakh crore are under implementation.
In the current year, oil and gas projects with an investment of Rs 97,667 crore have been completed and this is 83 per cent of the total target for the year of Rs 1,18,499 crore. In FY24, the sector had invested Rs 1,36,821 crore, which was 129 per cent of the target of Rs 1,06,401.
Oil and Gas central public sector enterprises have been exceeding their annual Internal and Extra Budgetary Resources and capex target continuously over the last five years.
Meanwhile, the government has been providing a subsidy of Rs 300 per cylinder to Pradhan Mantri Ujjwal Yojana consumers. This is available to more than 10.33 crore Ujjwala beneficiaries, across the country. Apart from the direct subsidy to consumers, the OMCs have also been compensated Rs 22,000 crore in FY 2022-23 by Government of India to cover the under-recoveries suffered by them in not passing on the high international LPG prices to the domestic LPG consumers.