InvestorQ : Is it true that some of the oil companies in India like BPCL, ONGC and IGL are putting off their expansion and restructuring plans? Is it because of the virus?
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Is it true that some of the oil companies in India like BPCL, ONGC and IGL are putting off their expansion and restructuring plans? Is it because of the virus?

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Sam Eswaran answered.
12 months ago
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Yes, that is absolutely correct. In fact, most of the oil and related companies are putting off plans for now. Consider these.

a) BPCL has deferred the shutdown of secondary units at its Kochi and Mumbai refineries due to shortage of manpower to carry out the turnaround job. BPCL will be shutting its catalytic cracker and some other units at its 240,000 bpd Mumbai refinery.

b) ONGC, which produced 64.50 MMSCMD, has reduced the flow to 59.8 MMSCMD on 24 March and will further cut by another 3 MMSCMD on Thursday.

c) GAIL has been piled with requests to cut in supplies for another 5 MMSCMD along its Hazira-Vijaipur-Jagdishpur pipeline. The demand for gas has also been hit by all vehicles, barring ones used by law enforcement agencies

d) Indraprastha Gas Ltd, the NCR gas supplier, has already shut two-third of its CNG dispensing pumps in view of the demand constraints.

It is expected that things could get worse in the coming weeks.

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