(a) the details of oil companies which are having joint venture with IOC and HPCL;
(b) whether these are incurring losses;
(c) if so, the details thereof;
(d) whether the Government have decided to review the working of these companies;
(e) if so, the details thereof;
(f) whether IOC and HPCL are not managing their companies efficiently; and
(g) the steps proposed to be taken to manage them effectively?
MINISTER OF STATE IN THE MINISTRY OF PETROLEUM & NATURAL GAS (SHRI SANTOSH KUMAR GANGWAR)
(a) to (c) The names of the Joint Venture Companies of Indian Oil Corporation Limited and Hindustan Petroleum Corporation Limited are given in the Annexure. Out of these JVs, 4 joint ventures are making losses.
(d) to (g): The joint ventures companies have been formed in line with the Joint Venture agreements/Memoranda of Understanding signed between the joint venture partners. The performances of all JVs are monitored by the Navratna Boards and steps are taken to improve performance of all JVs.
Annexure referred to in reply to part (a) of the Lok Sabha Unstarred Question No.761 to be answered on 23rd November, 2000 regarding Review of Companies in Joint Venture with IOC and HPCL.
LIST OF JOINT VENTURES OF INDIAN OIL CORPORATION LIMITED
S.No. Name of JV CO-Promoters Whether Whether operational incurring loss
1. Indo Mobil Limited Mobil Petroleum Co. Inc. Yes Yes
2. Avi-Oil India Ltd Balmer Lawrie and NYCO SA,France Yes No
3. Indian Oil Tanking Ltd IBP and Oil Tanking Gmbh,Germany Yes Yes
4. Lubrizol Indian Ltd Lubrizol Corporation USA Yes No
5. Petronet India Ltd(PIL) BPC, HPC, IBP,Infrastructure No No Leasing and Financial Services (ILFS), ICICI, SBI, Essar Oil Ltd (EOL) & Reliance Petroleum Limited (RPL) 6. Petronet Vadinar PIL, RPL, EOL, SBI, Kandla Port No No Kandla Limited Trust (KPT), Gujarat Infrastr- ucture and Leasing, ILFS, Canara Bank
7 Petronet Chennai- PIL and others No No Trichy-Madurai Ltd
8. Petronet LNG Limited BPC, ONGC, GAIL, NTPC and other No No strategic partners & Financial Institutions
9. Indian Oil Petronas Petronas-Malaysia No No Limited (IPL) 10. Indian Oil Panipat Marubeni Corporation (MC) No No Power Consortium Ltd (IPCL) 11. Indian Oil TCG The Chatterjee Group (TCG) No No Petrochem Limited
LIST OF JOINT VENTURES OF HINDUSTAN PETROLEUM CORPORATION LIMITED
S.No. Name of JV CO-Promoters Whether Whether operational incurring loss
1 Mangalore Refinery & A.V. Birla group of companies Yes Yes Petrochemicals Limited (MRPL)
2. Hindustan Colas Ltd Colasie SA of France Yes No
3. Petronet India IOC, BPC, ICICI, SBI, RIL etc. Yes No Limited (PIL)
4. Prize Petroleum Co. ICICI, TDICI & HDFC Yes Yes Limited (PPL)
5. South Asia LPG Co. Totalfinaelf of France No No Limited (SALPC) 6. Petronet Mangalore Petronet India Limited No No Hassan Bangalore Ltd. (PMHBL)
7 Hindustan Oman Petro- Oman Oil Company. No. No leum Company Ltd. (HOPCL) (The winding up acti- vities of the company are in progress)