BPCL Boosts Petrochemical Capex by 35% While IOC, ONGC Trim Budgets

Published By DPRJ Universal | Published on Tuesday, 3 February 2026

Bharat Petroleum (BPCL) plans a significant 35% increase in capital expenditure for the next fiscal year, primarily focusing on its petrochemical ventures. This strategic move by BPCL contrasts sharply with its industry peers, Indian Oil (IOC) and ONGC, which are opting to reduce their investment budgets. The differing strategies highlight a shift in investment priorities within India's oil and gas sector, with BPCL betting big on the growth potential of petrochemicals.

Bharat Petroleum Corporation Limited (BPCL) is set to embark on an ambitious expansion strategy, earmarking a substantial 35% increase in its capital expenditure for the upcoming fiscal year. This aggressive investment surge is strategically directed towards bolstering BPCL's presence and capabilities in the burgeoning petrochemicals sector. The company's decision underscores a pronounced commitment to diversifying its revenue streams and capitalizing on the long-term growth prospects of petrochemical products. This forward-looking approach by BPCL stands in stark contrast to the conservative investment strategies adopted by two other major players in the Indian energy landscape: Indian Oil Corporation (IOC) and Oil and Natural Gas Corporation (ONGC). Both IOC and ONGC are reportedly scaling back their respective investment budgets for the same period. This divergence in capital allocation reflects differing corporate priorities and market outlooks among the public sector undertakings. BPCL's increased focus on petrochemicals suggests a strategic pivot towards higher-value products and a potential de-emphasis on traditional refining or exploration activities, differentiating its future growth trajectory from its counterparts. The move positions BPCL to potentially gain a competitive edge in a segment with high demand.