Butola favourite for IOC

Vol 14, PW 3 (29 Jul 10) News in Brief

OVL managing director RS Butola appears to have a good chance of becoming the next IndianOil chairman, as the likelihood of him beating colleague Sudhir Vasudeva for the ONGC top job slips further into the distance.

PETROWATCH learns the PESB has fixed September 29 for the IOC chairman interviews and shortlisted 17 candidates, among them Butola, who is widely tipped. “Butola should get it,” says a well-placed source, after examining the shortlist.

Another strong contender is RK Singh, BPCL director refineries, as he is believed to have the support of Reliance-owner Mukesh Ambani. Also competing are DGH chief SK Srivastava, Oil India director finance TK Ananth Kumar, MRPL managing director UK Basu, RK Tyagi of Pawan Hans Helicopters, HPCL executive director OP Pradhan and IOC executive director RK Ghosh.

IOC director business development BM Bansal has been interim chairman since March 1, when IOC chairman Sarthak Behuria stepped down.