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Rediff.com  » Business » Oil PSUs spent Rs 800 crore on ads!

Oil PSUs spent Rs 800 crore on ads!

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August 16, 2005 16:52 IST

Public sector oil firms spent over Rs 800 crore (Rs 8 billion) on advertisements during the last three years, with Indian Oil Corp topping the list with an expenditure of Rs 275.35 crore (Rs 2.753 billion), Petroleum Minister Mani Shankar Aiyar said on Tuesday.

In a written reply to a question in Rajya Sabha, Aiyar said IOC, country's largest oil firm, spent Rs 275.35 crore on advertisements during the last three years.

Bharat Petroleum Corp Ltd (BPCL) spent Rs 154.90 crore (Rs 1.549 billion), while Hindustan Petroleum Corp Ltd (HPCL) was a close third with an expenditure of Rs 148.56 crore (Rs 1.485 billion). Oil and Natural Gas Corp (ONGC) spent Rs 84.06 crore (Rs 840.6 million) and gas firm GAIL (India) Ltd Rs 59.87 crore (Rs 598.7 million) during the period.

He said IOC's subsidiary IBP Co Ltd spent Rs 9.22 crore (Rs 92.2 million) on advertisements during the last three years.

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