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Oil PSUs restarts 511 projects worth over Rs. 42,000 crore: Petroleum Ministry

Image: Dharmendra Pradhan Twitter

At a time when global oil prices are crashing leaving oil companies in dire straits, India’s state-run oil and gas majors resumed work bouncing back from the nationwide lockdown forced by the Covid-19 pandemic. 

In a tweet post, The Ministry of Petroleum and Natural Gas (MoPNG) on Monday said, “Oil & gas PSUs of MoPNG have started operations for over 511 projects today with an approximate project cost of Rs. 2 lakh crores post- lifting of restrictions for certain services and activities w.e.f 20th April, 2020.”

Minister of Petroleum and Natural Gas Dharmendra Pradhan also tweeted, “Within the 1st month of resumption, these projects will generate a payout of  Rs. 2,210 crores out of which Rs. 266 core is attributed to labour. These oil & gas projects started today are targeted to incur an expenditure of about Rs. 42,790 crores in FY 2020-21.”

He also added, “These projects are expected to generate approximately 7 crore mandays of employment in their completion. This will boost job creation and help in mitigating the hardships due to Covid-19.”

Work resumption of oil and gas projects in areas like refineries, pipelines, city gas networks will restore livelihoods for hundreds and thousands of labourers and semi-skilled workers employed by the contractors. 

These projects include 196 projects of the country’s largest refiner-fuel marketer, Indian Oil Corporation Ltd (IOC), 168 of Bharat Petroleum Corp Ltd (BPCL), 57 of Hindustan Petroleum Corp Ltd (HPCL), 32 of GAIL and 26 projects of Oil and Natural Gas Corporation Limited  (ONGC).

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