Jaipur, Feb 7 (PTI) The state government today signed aMemorandum of Understanding with Bharat Petroleum Corporationfor marketing refined petroleum products of its RajasthanRefinery.
State Principal Secretary Mines and Petroleum GovindSharma and Executive Director, Bharat Petroleum Corporation, PS Bhargava, signed the MOU, according to an official here.
As per the MOU, BPCL will lift minimum 75 per cent of theproduct volume of the total marketable refined petroleumproducts of Rajasthan Refinery.
There will be a long-term commercial agreement for supplyof quantities and products refined at Rajasthan Refinery,which shall also cover the schedules, quality specifications,metering, take or pay arrangements and other associatedfacilities supplementing the storage and transport of thepetroleum products.
This MOU has been signed in pursuance of SC TripathiCommittee report on utilization of hydrocarbon resource inRajasthan with a special emphasis to Rajasthan Refinery.
The committee, which was constituted by the stategovernment in September 2009, came out with its report inApril last year.
It recommended setting up of 4.5-6.0 million tonne perannum refinery in Barmer in the first phase and also advisedthat the state government should consider supporting thepromoters of refinery.