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MOTORINDIA
l
April 2012
71
IndianOil
signs annual MoU with Government
IndianOil has signed the annual memorandum of un-
derstanding (MoU) with the Government for 2012-13
which lays significant emphasis on operational perform-
ance and other parameters such as Research & Develop-
ment, Corporate Governance, HRD, Corporate Social Re-
sponsibility and Sustainable Development. Emphasis has
also been placed on operational safety too.
The MoU was signed by Mr. GC Chaturvedi, Secretary,
Ministry of Petroleum and Natural Gas, and Mr. R.S. Bu-
tola, Chairman, IndianOil.
IndianOil has also set the highest-ever targets for crude
throughput and distillate yield.
Parameters specific to the MoU for 2012-13 address
the ‘Oil Sector Vision 2015’, Paradip Refinery project,
capital expenditure and implementation of reservation
in appointment of executives.
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lubes & fuels
Mr. R.S. Butola, Chairman, IndianOil, (left), and Mr. GC
Chaturvedi, Secretary, Ministry of Petroleum and Natu-
ral Gas, exchanging documents after signing the MoU
Critical operations in each division such as crude
throughput, projects, distillate yield, safety, qual-
ity and new areas of business development have
been accorded high priority in the MoU.