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Our Bureau

Mumbai , Dec. 15

HINDUSTAN Petroleum Corporation Ltd (HPCL) and Chevron Texaco's Fuel and Marine Marketing LLC have signed a preliminary agreement for fuelling of the latter's ships at Indian ports.

According to a senior HPCL official, the agreement signed on December 13, will allow HPCL to fuel all Chevron Texaco vessels berthing at Indian ports. "This is a very preliminary memorandum of understanding. Also, we have signed a confidentiality agreement with Chevron. The definitive agreement is yet to be firmed up," the official said.

Fuelling of ships is a one million-tonne market and HPCL is looking for a larger share through such exclusive arrangements. The "definitive agreement" framing details of the deal will be signed within the next three to six months, he said.

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