R.S. Butola is new IOC Chairman

Mr R.S. Butola has taken over as the new Chairman of Indian Oil Corporation. Mr Butola was previously the Managing Director of ONGC Videsh Ltd and during his tenure, the company set up an exploration and production portfolio with assets in over 15 countries. As the first Chief-Commercial of ONGC, Mr Butola was also part of the team that negotiated and executed the first crude oil sales agreement with the refineries upon dismantling of the erstwhile administered pricing regime. Mr Butola holds a MBA from the Faculty of Management Studies, Delhi, and is a Certified Associate of the Indian Institute of Bankers (CAIIB).