Indian Oil Corporation achieved 37% of its capital expenditure target of ₹32,700 crore for FY27 in the first half ended September 2026. According to reports from Business Standard, the company spent ₹12,162 crore during the April-September 2026 period, with refining and marketing segments accounting for the majority of investments at ₹9,300 crore. Petrochemical projects received ₹1,306 crore in investment, while pipeline construction, natural gas projects, and research and development each received ₹582 crore, ₹133 crore, and ₹109 crore respectively. The exploration and production segment received the smallest allocation at ₹121 crore.
As reported by Business Standard, two large projects have been mechanically completed since July 2026 and are currently under commissioning. These include the ₹13,805 crore Paraxylene-Purified Terephthalic Acid (PX-PTA) Complex at Paradip Refinery and the ₹3,220 crore New Mundra-Panipat Crude Oil Pipeline. The company expects to complete three major refinery expansion projects by the end of next month, including the Panipat Refinery Expansion targeting capacity increase from 15 million tonnes per annum to 25 MTPA with an approved cost of ₹38,231 crore. The other two projects include the ₹18,936 crore Gujarat Refinery Expansion and the ₹18,113 crore Barauni Refinery Expansion.
According to Business Standard, Nitin Kumar, Executive Director, Corporate Finance and Treasury at Indian Oil, stated that these investments are aligned with the company's long-term strategic roadmap and national energy priorities. The company is undertaking phase-wise commissioning of process unit utilities and offsite capacities in a structured manner to enable progressive capacity build-up and integration. Overall, projects entailing investments of ₹1.04 trillion are currently under implementation by Indian Oil.
As reported by Business Standard, Indian Oil plans to expand renewable energy generation capacity from the existing 259 GW to 31 GW over the next five years. The company will invest between ₹5,000 crore and ₹10,000 crore as equity contribution in joint ventures to set up clean energy projects. The company is also spending ₹3,220 crore on setting up a new research and development campus at Faridabad in Haryana and ₹2,949 crore on establishing a polybutadiene rubber plant at Panipat.
