Indian Oil Giants Set Record ₹69,000 Crore Capex for FY26, Signaling Major Energy Sector Expansion

India's leading oil marketing companies (OMCs) are poised to increase their capital expenditure by 4.5% year-on-year to reach ₹69,000 crore in FY26. This significant investment will be led by industry giants, with IOCL allocating ₹35,000 crore, BPCL investing ₹18,500-19,000 crore, and HPCL contributing ₹13,000-15,000 crore. The expansion primarily focuses on refining and petrochemical projects, driven by projections of India's oil demand growing at 4-5% CAGR over the next decade. This strategic investment comes as Goldman Sachs anticipates operational recovery for OMCs starting FY26.

Source: Chem In Digest