The state government today signed a Memorandum of Understanding (MoU) with Bharat Petroleum Corporation (BPCL) for marketing refined petroleum products of its Rajasthan Refinery.
State Principal Secretary Mines and Petroleum Govind Sharma and BPCL Executive Director P S Bhargava signed the MoU, according to an official here.
As per the MoU, BPCL will lift minimum 75% of the product volume of the total marketable refined petroleum products of Rajasthan Refinery.
There will be a long-term commercial agreement for supply of quantities and products refined at Rajasthan Refinery, which shall also cover the schedules, quality specifications, metering, take or pay arrangements and other associated facilities supplementing the storage and transport of the petroleum products.
This MoU has been signed in pursuance of SC Tripathi Committee report on utilisation of hydrocarbon resource in Rajasthan with a special emphasis to Rajasthan Refinery.
The committee, which was constituted by the state government in September 2009, came out with its report in April last year.
It recommended setting up of 4.5-6.0 million tonne per annum refinery in Barmer in the first phase and also advised that the state government should consider supporting the promoters of refinery.
