Economy

Jaipal Reddy okays Butola appointment as IOC chief

PTI New Delhi | Updated on February 21, 2011 Published on February 21, 2011

Mr R.S. Butola (file photo). -- V.V. Krishnan   -  The Hindu

Ending weeks of uncertainty, the Oil Minister, Mr S. Jaipal Reddy, has cleared the appointment of ONGC Videsh Ltd Managing Director, Mr Ranbir Singh Butola, as the Chairman of Indian Oil Corporation (IOC).

Sources said government headhunters Public Enterprise Selection Board (PESB) had, on September 29 last year, named Mr Butola as its most preferred choice to head the nation’s largest oil firm.

After the clearance of the Central Vigilance Commissioner (CVC), Mr Butola’s name had been forwarded to the Cabinet Committee on Appointments when there was a change of guard at the Ministry of Petroleum and Natural Gas last month.

Sources said the file, which had a recommendation from the former oil minister Mr Murli Deora for Mr Butola’s appointment, was returned to Mr Jaipal Reddy for ratification.

Mr Reddy, last week concurred with his predecessor’s recommendation and Mr Butola’s candidature has now gone to the Cabinet Committee on Appointments for formal approval, they said.

Sources said the Minister is however yet to give a go ahead to Mr Sudhir Vasudeva, who was chosen by PESB as its No 1 choice to head state-owned ONGC.

The CVC had raised certain questions and the Oil Ministry is yet to reply to them.

Mr A.K. Hazarika is officiating as the Chairman and Managing Director of ONGC after Mr R.S. Sharma retired on January 31.

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

Published on February 21, 2011
This article is closed for comments.
Please Email the Editor