Hindustan Petroleum Corporation (HPCL) has entered into a memorandum of understanding (MOU) with the Ministry of Petroleum & Natural Gas for the financial year 2012-13. Under the MOU, targets are set as per DPE guidelines and approved by DPE/Task Force, in consultation with administrative ministry.
The MOU which is an effective tool for monitoring the performance of Central Public Sector Enterprises was signed by CMD of HPCL and Secretary, Ministry of Petroleum & Natural Gas.
HPCL, a fortune 500 company, is one of the major integrated oil refining and marketing companies in India. HPCL accounts for about 20% of the market share and about 10% of the nation's refining capacity with two coastal refineries.
