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Indian Oil Corporation Ltd on Monday has signed the annual memorandum of understanding (MoU) with the Government of India for the year 2011-12. In the MoU, contemporary parameters such as sustainable development, corporate governance and research & development have been underscored. High priority has also been accorded to operational parameters such as crude throughput, distillate yield, timely completion of refining and pipeline projects, optimising retail network, customer satisfaction and quality upgradation.
Marking a significant leap towards sustainable development, environmental mapping (greenhouse gas emissions, water and waste footprint) has been included for the first time in the MoU. The MoU document was signed on Tuesday by Mr S. Sundareshan, Secretary, Ministry of Petroleum and Natural Gas, and Mr R.S. Butola, Chairman, Indian Oil.
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