OREANDA-NEWS. March 15, 2011. Indian Oil Corporation Ltd. (IndianOil) has signed the annual MoU with the Government of India for the year 2011-12. The MoU document was signed today by Mr. S Sundareshan, Secretary, Ministry of Petroleum and Natural Gas, and Mr. R.S. Butola, Chairman, IndianOil. In the MoU, contemporary parameters such as Sustainable Development, Corporate Governance and Research & Development have been underscored.

In the growth-oriented MoU for 2011-12, high priority has also been accorded to operational parameters such as crude throughput, distillate yield, timely completion of refining and pipeline projects, optimizing 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.