Annual Report 2008-2009 - Bharat Petroleum

SCHEDULE ‘X’ – (CONTD.)
22.2 The Corporation has on the Balance Sheet date the following outstanding derivatives for hedging
purposes:
Instrument Description Quantity
OTC Swap Spread between Petroleum Products and Crude Oil 1.45 million barrels
OTC Swap Spread between Dated Brent Crude and Dubai Crude Oil 0.45 million barrels
OTC Swap Platinum 2,000 Troy ounce
OTC Swap Structured Products 0.65 million barrels
Interest Rate Swaps Floating to fixed interest in respect of ECB loan of USD –
13.50 million
For the year 2008-09, the Corporation has provided for losses on Mark-to-Market basis for outstanding
derivatives in accordance with the principle of prudence and other applicable guidelines. Accordingly,
Rs. 3.96 crores (previous year Rs. 1.75 crores) has been provided for losses on the above outstanding
derivatives.
23) Managerial Remuneration :
2007-08
Rs. Crores Rs. Crores
Salary and allowances 0.54 0.44
Contributions to Provident Fund and other funds 0.09 0.05
Other benefits 0.68 0.55
1.31 1.04
24) Remuneration to Auditors (net of service tax):
2007-08
Rs. Crores Rs. Crores
(a) Audit fees 0.16 0.13
(b) Fees for other services-certification 0.12 0.10
0.28 0.23
25) Licensed Capacity, Installed Capacity (as certified by the Management) and
actual production in respect of goods manufactured:
(a)
(b)
Licensed
Capacity
Fuel refinery
(i) In million metric tonnes p.a. NA
(NA)
Installed
Capacity
19.50
(19.50)
Actual
Production
19.95
(20.95)
(ii) Production in kilolitres (KL)
Light distillates – – 6,951,676
(7,363,760)
Middle distillates – – 12,247,355
(12,968,171)
Others – – 3,621,216
(3,627,994)
Aromatics (in MT)
(i) Benzene * 185,500
192,900
79,653
(185,500) (192,900) (88,313)
(ii) Toluene * 67,600
73,100
28,375
(67,600)
(73,100) (26,336)
(iii) Mixed Aromatic Solvent 15,000
(15,000)
15,000
(15,000)
–
–
Annual Report 2008-2009 111