Public sector oil companies would invest Rs 229,071 crore in oil and gas exploration, fuel retailing, refineries and petrochemical during the 11th Plan Period (2007-12).

In a written reply in Lok Sabha, Minister of State for Petroleum and Natural Gas Dinsha Patel said Rs 150,932.49 crore would be spent on oil and gas exploration in India and abroad, Rs 62,582.10 crore on refining and marketing and Rs 15,321 crore on petrochemical business. Oil and Natural Gas Corp (ONGC) will invest Rs 75,983.77 crore in domestic E&P while its subsidiary ONGC Videsh Ltd has budgeted Rs 45,332.87 crore in overseas oil and gas hunt. Oil India Ltd has earmarked Rs 13,439.02 crore and GAIL India Rs 10,326.83 crore, he said.

Indian Oil Corp has planned an investment of Rs 28,567.75 crore in refining and marketing in 2007-12, Bharat Petroleum Rs 11,344.80 crore and Hindustan Petroleum Rs 8,714 crore. IOC also plans to invest an additional Rs 11,844.10 crore in petrochemical plans while GAIL has projected Rs 1,618 crore.

Patel also said IOC, BPCL and HPCL plan to set up 1,830 new petrol stations in 2008-09. Of these, IOC would set up 930, HPCL 498 and BPCL 380. Oil retailers are at present operating 306 auto LPG dispensing stations in the country, he added. They would add another 158 next year.