New Delhi, May 20 -- State-run Oil India Ltd (OIL) plans to raise its exploration and production capital expenditure by over 10% to Rs.10,000 crore this fiscal year, chairman and managing director Ranjit Rath said, as the country grapples with an energy shock amid the West Asia war.

The Maharatna company, which traces its origin to India's first commercial crude oil discovery in Digboi (Assam), expects to produce about 4 million tonnes (mt) of crude oil this fiscal, compared with 3.45 mt in FY26. He added that work on the $20-billion Mozambique LNG project has resumed. Oil India, part of an Indian consortium comprising ONGC Videsh Ltd (OVL) and Bharat Petroleum Corp. Ltd (BPCL), holds a 4% stake in the project, which is expected to start...