UK Basu of IOC will be new MD of Mangalore Refineries

Vol 11, PW 20 (21 Feb 08) People & Policy

When the news came it surprised everybody, not least LK Gupta, director finance at ONGC subsidiary Mangalore Refineries and Petrochemicals (MRPL).

Until now Gupta’s appointment as the new MD of MRPL to replace R. Rajamani was seen a formality.

But no! PETROWATCH learns UK Basu, executive director and head of Indian Oil’s Koyali refinery in Gujarat, will be the next managing director at MRPL. Basu came first during interviews at the Public Enterprises Selection Board (PESB) in Delhi on February 14 and 15 to find a successor to Rajamani, who retires on September 1.

D. Chakravarty, director technical at Bharat Petroleum subsidiary Numaligarh Refinery was the PESB’s second choice.

Born on June 18, 1952, Basu joined IOC on May 22, 1977, after graduating in chemical engineering from the prestigious Jadavpur University in Kolkata in 1976. “Basu has been posted at Koyali refinery since June 2006,â€‌ reports an industry source.

“Before that, he was based at IOC’s corporate office in Delhi.â€‌ When in Delhi Basu was in charge of the supply chain management department at IOC.

“His job included selection of crude for IOC refineries, production-planning and distribution of petroleum products across the country,â€‌ we are told. “He was also heading IOC’s petroleum products demand forecast department.

â€‌ Thirty-one candidates were interviewed for the MD post at MRPL: Eighteen were interviewed on February 14 and thirteen appeared on February 15. News of Basu’s selection came as a surprise to almost everyone watching the selection process – particularly MRPL director finance LK Gupta.

“Gupta was disheartened at the news,â€‌ adds a source. “But he has taken it bravely, and practically.

What else can he doâ€‌

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