BPCL signs MoU with petroleum ministry

Bharat Petroleum Corporation (BPCL) has signed a memorandum of understanding (MoU) with the union petroleum & natural gas ministry for 2005-06, which includes achieving a crude throughput of 10.3 million metric tonne per annum (MMTPA) at its Mumbai refinery.

The MoU for the year 2005-06 has been enlarged to encompass key parameters on quality assurance, customer service and efforts towards R&D. In addition, as an efficiency parameter, new parameters on average refining cost per tonne and average marketing cost per tonne have been incorporated in the MoU, BPCL said in a release today.

"In view of the impending merger of Kochi Refineries with BPCL, a synergy parameter has been incorporated in the MoU," the release said, adding, financial parameters continue to have a major 50% share in overall weightage.