ONGC director finance

Vol 15, PW 7 (06 Oct 11) News in Brief

ONGC Videsh (OVL) director finance SP Garg is seen as a strong contender to step into the director finance post at parent company ONGC.

PETROWATCH learns the PESB is preparing to advertise the ONGC director finance post, lying vacant since September when DK Sarraf moved to OVL as managing director. “Garg has a strong chance of winning,” says a well-placed source.

“Twice before an OVL director finance has stepped straight into the same role at ONGC.” DK Sarraf, he reminds us, was OVL director finance before moving to ONGC in 2007.

It was a similar story with RS Sharma, who was first OVL director finance, then ONGC director finance, then ONGC chairman. Other potential candidates for the job include ONGC’s corporate finance chief AK Banerjee and Vishnu Agrawal, the director finance at ONGC’s refining subsidiary Mangalore Refinery and Petrochemicals.

“Banerjee is very capable,” we hear. “He worked with RS Sharma when he was ONGC director finance.


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