Reddy clears Srivastava

Vol 15, PW 16 (23 Feb 12) News in Brief

He might have hesitated, but oil minister Jaipal Reddy has finally cleared DGH boss SK Srivastava’s file for appointment as the next Oil India chairman.

Reddy signed Srivastava’s file on February 13 before sending it to the Indian cabinet’s appointments committee for signatures, likely to happen well before May 1. “Reddy didn’t want Srivastava to leave the DGH,” says a source.

“That’s why he has been sitting on the file since October (when Srivastava was selected by the PESB for the Oil India role).” Reddy is believed to be impressed with Srivastava’s reputation as a stickler for rules who cracks down on operators for any deviation from the PSC.

“Srivastava had the guts to stand up to (Mukesh Ambani’s) Reliance,” we learn. “It will be difficult to replace him at the DGH.

” Yet, rumour is rife that Srivastava, 56, is having second thoughts about moving to Oil India to replace chairman NM Borah, who retires on April 30. “Srivastava’s DGH role is more prestigious,” we hear.