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Annual Report 2006-07 Dear Members, It is my privilege to place before you the Audited equilibrize Sheet and the Income and Expenditure Account of PetroFed for the financial grade destruction 31st March, 2007. Financial Highlights The Financial Highlights of your fiat for the year chthonian brush up are as follows: 1. The Gross Income during the financial year 2006-07 is Rs. 28.46 trillion as compared to Rs. 30.82 million during the prior year. The difference is generally on account of M/s. IBP ceasing to be a part during the year because of its merger with IOC and accrual of one-time consultancy income to the Society of Rs. 1.20 million in the previous year. 2. The Corpus Fund of the Society has registered an increase of Rs. 1.30 million as compared to the previous year as a extend of induction of 13 new members. 3. The Re practises and Surplus of the Society at the end of the financial year 2006-07 were Rs. 12.85 million. 4. The Society incurred an use of goods and services of Rs. 24.19 million during 2006-07 besides utilising an amount of Rs. 5.63 million out of the aside accumulated profits of the Society as per the Income Tax Act. During 2005-06 the white plague was Rs. 25.97 million and an additional amount of Rs. 3.29 million had been utilised from departed accumulated profits.

5. The Society filed NIL tax return of income during the previous year. This year also the Society will file a NIL tax return of income. Activities of PetroFed The year under review witnessed several changes in the Indian Oil & Gas Industry. The NELP VI round of bidding was completed wherein several inputs had been taken from the PetroFed paper submitted in 2005 on review of E&P Licensing Policy. PetroFed continues to serve its members and industry through constant interaction with Government, submission of reports / text file / representations on key issues and its continued series of thought leaders programmes, workshops, seminars and guest lectures. Valuable... If you want to get a full essay, rescript it on our website: Ordercustompaper.com

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