State-owned oil companies, including ONGC and Indian Oil Corporation, are expected to invest Tk 98,521 crore in FY 2020.
This is 5 percent higher than the projected investment for the current fiscal year. During the current financial year, the public sector companies planned to invest Rs. In the current financial year, Rs. The financial year has been spent.
ONGC will invest Tk 1.2 billion. This is 4 percent more than the previous year. Indian Oil Corporation will invest Tk 26,233 crore, up 17.4 per cent over the previous year. India Petroleum will invest Rs 9,000 crore, Gail has invested 5,412 crore and Hindustan Petroleum Corporation has invested Taka 11,500 crore. Last year Hindustan Petroleum made similar investments. Oil India has invested Rs 6,675 crore in the current financial year and will invest Rs 1,777 crore in the current fiscal.
In the latest budget announcement, Union Finance Minister Nirmala Sitharaman proposed a plan to increase the existing natural gas pipeline from ১ 16.2 km to 2,27.5 km. The federal government has set a target to increase natural gas use by 5 percent by 20%.