A parliamentary panel has highlighted that capital expenditure by petroleum and natural-gas central public sector undertakings (CPSUs) has increased over the years even as domestic crude oil production has continued to decline. Presenting its twenty-first report on the performance of oil and gas CPSUs, the Committee on Public Undertakings said the trends point to structural challenges such as ageing fields and long project cycles.

According to the report, the capital expenditure of the petroleum and natural gas CPSUs increased from Rs 1.33 lakh crore in 2020–21 to around Rs 1.69 lakh crore in 2024–25. At the same time, the committee noted that "overall crude oil production has declined from 34.20 million metric tons (MMT) in 2018–19 to 28.70 MMT in 2024–25 (provisional)", while natural ga

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