GOVERNMENT SIGNS MOU WITH FOUR NAVARATNA
OIL PSUs
The Government has
signed Memorandum of Understanding with four Navaratna PSUs under
the Ministry of Petroleum & Natural Gas, earmarking higher
targets for the year 2003-04 on various performance parameters.
These PSUs are GAIL (India) Ltd. (GAIL), Indian Oil Corporation
(IOC), Bharat Petroleum Corporation Limited (BPCL) and Hindustan
Petroleum Corporation Limited (HPCL). On behalf of the Government
of India Shri B.K. Chaturvedi, Secretary, MOP&NG signed the
MOUs while the respective CEOs of PSUs signed the MOUs.
The MOU which was
signed by Shri Prashanto Banerjee, CMD GAIL, sets a target of
gross margin at Rs. 2,583.7 crore for the year 2003-04. GAIL has
achieved Excellent MOU rating for the year 2002-03 maintaining
its track record. Shri M.S. Ramachandran, Chairman, IOC signed
the MOU on behalf of the company. The gross margin target for
IOC has been set at Rs. 4,675 crore against its target of Rs.
3,553 crore for the current year. The crude throughput target
for IOC has been set at 36.1 MMT against 34.8 MMT in 2002-03.
In the case of BPCL
gross margin target for the coming year has been placed at Rs.
2,350.58 crore. The MOU signed by Shri S. Behuria CMD BPCL on
behalf of the company has assigned a target of 8.65 million tonne
crude throughput for the BPCL’s Mumbai Refinery which would represent
refinery utilisation capacity of 125 per cent. The MOU with HPCL
was signed by Shri D.S. Mathur, Director (Refineries & Finance)
on behalf of CMD HPCL setting targets for achieving excellence
in refining and marketing project, execution, etc.
