Vivek Rae underwhelmed by ONGC visit

Vol 16, PW 19 (18 Apr 13) News in Brief

ONGC's directors did their best to score points and impress oil secretary Vivek Rae during his first visit to the company's Delhi corporate office on April 8.

“ONGC planned three presentations for Rae,” says a source. “The first was on the highlights of ONGC and its group companies.

The second was on problems faced by the company while doing business. The third was on the 'ONGC Perspective Plan 2030' but that was cancelled due to lack of time.

" Nearly 30 people attended the two hour meeting. ONGC’s newly appointed director exploration NK Verma sought Rae’s help to secure clearance from the defence and environment ministries.

Director finance AK Banerjee wanted Rae’s intervention to recover dues from other state-owned oil companies. Rae promised ONGC that he would help.

Also present were ONGC chairman Sudhir Vasudeva, OVL managing director DK Sarraf and Mangalore Refinery and Petrochemicals managing director PP Upadhya.

LNG Summit