Indian Oil Corporation (IOC) spent ₹12,162 crore on capital expenditure (capex) during the first half of FY27, achieving approximately 37% of its full-year investment target of ₹32,700 crore. The spending. The spending covered refinery expansion, marketing infrastructure, petrochemicals, pipelines, natural gas and research and development projects. The pace is slower than the previous financial year, when Indian Oil had spent more than 47% of its annual capex target by the end of.