Indian Oil wants آ‘oil manآ’ as next Petronet-India MD

Vol 7, PW 18 (19 Nov 03) News in Brief

Indian Oil wants an oil company nominee to be the next MD of pipeline company Petronet-India.

IOC made this clear at a 14th November Petronet-India board meeting held to choose a replacement for KK Sinha who is now with Essar Oil. Two names have already been shortlisted for the post: Sidharath Kapur, senior vice president finance at Petronet-India and Dr Anand Teltumbde, general manager at Bharat Petroleum.

Kapur, formerly with IDBI, was widely expected to be appointed MD at the 14th November meeting had IOC not objected. A source tells PETROWATCH the other nine board members disagreed with IOCs view but each company on the board has veto power.

A decision has been postponed for the next board meeting. Also during the 14th November meeting, Petronet-India nominated IOCs director pipelines AM Uplenchwar as its chairman for a two-year term to succeed MB Lal, HPCL chairman.