Executive Summary
Objective
* To serve the national interests in oil and related sectors in accordance and consistent with Government policies.
* To ensure maintenance of continuous and smooth supplies of petroleum products by way of crude oil refining, transportation and marketing activities and to provide appropriate assistance to consumers to conserve and use petroleum products efficiently.
* To enhance the country's self-sufficiency in crude oil refining and build expertise in lying of crude oil and petroleum product pipelines.
* To further enhance marketing infrastructure and reseller network for providing assured service to customers throughout the country.
* To create a strong research& development base in refinery processes, product formulations, pipeline transportation and alternative fuels with a view to minimizing/eliminating imports and to have next generation products.
* To optimize utilization of refining capacity and maximize distillate yield and gross refining margin.
* To maximize utilization of the existing facilities for improving efficiency and increasing productivity.
* To minimize fuel consumption and hydrocarbon loss in refineries and stock loss in marketing operations to effect energy conservation.
* To earn a reasonable rate of return on investment.
* To avail of all viable opportunities, both national and global, arising out of the Government of India’s policy of liberalization and reforms.
* To achieve higher growth through mergers, acquisitions, integration and diversification by harnessing new business opportunities in oil exploration production, petrochemicals, natural gas and downstream opportunities overseas.
* To inculcate strong ‘core values’ among the employees and continuously update skill sets for full exploitation of the new business opportunities.
* To develop operational synergies with subsidiaries and joint ventures and continuously engage across the...