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Business Line: RPL-IOC pact skids on 'vision'.

Chemical Business Newsbase

| January 06, 2002 | COPYRIGHT 2000 Elsevier Engineering Information, Inc. (Hide copyright information)Copyright

The 6-year marketing rights agreement between Indian Oil Corp (IOC) and Reliance Petroleum Ltd (RPL) in the post-administered pricing mechanism (APM) may not be as effective as estimated. This can be attributed to the changes in the Hydrocarbon Vision 2025 of the Government of India and the slowdown in the sales of petro products since 1999. As per the contract, IOC would pick up 8.5 M tonnes of products from RPL and the IOC-RPL joint venture would pick up another 6.5 M tonnes. When the contract was …

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