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Our Bureau

Kolkata , Oct 25

MR NARESH K. Nayyar, Director (Planning and Business Development) of IndianOil, resigned today. He will join as CEO of the London-based ONGC-Mittal Energy Ltd (OMEL), the flagship joint venture firm floated by ONGC and the Mittal Group for acquisition of oil and gas assets abroad.

Incidentally, Mr S.K. Sharma, Executive Director at BPCL, recently announced his move to become the first CEO of Mittal Energy Services Ltd (OMESL), another joint venture between the two majors for trading and shipping of oil and gas (including liquefied natural gas).

Confirming the news, Mr Nayyar told Business Line that he was expected to assume his new office middle of next month. "There are some pending procedures and formalities." .

A chartered accountant, Mr Nyyar (54) served the country's largest oil company, IndianOil, for 30 years.

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