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Upper house of Parliament approves outlay for Oil PSUs
05
Mar '08
The approved outlay for all Oil PSUs during the XI Five Year Plan period (2007-2012) is Rs. 229071.59 crore. With this proposed investment, the Oil PSUs would undertake all activities in the oil and gas sector, such as, Exploration and Production; Refining and Marketing; Petrochemicals and Engineering.

The proposed investment by Oil PSUs during the XI Plan period would help in meeting the growing energy needs of the Indian economy.

By the end of XI Plan, the domestic crude oil production is estimated to increase to 206.76 Million Metric Tonnes(MMT) as against the X Plan production of 166.56 MMT.

Similarly, the domestic Natural Gas production is likely to increase to 255.76 Billion Cubic Metres (BCM) as against the X Plan production of 158.86 BCM. From overseas sources, during the XI Plan, the production of crude oil and natural gas is targeted to be 35.51 MMT and 9.67 BCM respectively.

The Refining Capacity is projected to go up to 240.96 Million Metric Tonnes Per Annum (MMTPA) in the terminal year of XI Plan as against 148.97 MMTPA at the end of X Plan. In fact, the country is expected to have surplus refining capacity of about 108 MMTPA by end of XI Plan.

The above information was given by the Minister of State for Petroleum & Natural Gas Shri Dinsha Patel in a written reply in the Rajya Sabha.

Press Information Bureau Government of India

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