HPCL, BPCL sign MoU with Govt.

MUMBAI, APRIL 1. Hindustan Petroleum Corporation has entered into a memorandum of understanding (MoU) with the Government for the year 2000-01 under which the company has targeted to produce 12.85 million tonnes of crude during the period.

The MoU was signed yesterday between chairman and Managing Director of HPCL Mr. Zutshi, and Petroleum Secretary Dr. S. Narayan, a company release said here today.

HPCL has also declared an interim dividend of 80 per cent for the financial year 1999-2000.

Bharat Petroleum Corporation (BPCL) also has entered into a memorandum of understanding under which the company has targeted to produce 8.60 million tonnes of crude during the period.

The MoU was signed between Chairman and Managing Director of BPCL Mr. U. Sundararajan, and Petroleum Secretary Dr. S. Narayan.

- PTI

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Section  : Business
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