Sarraf for OVL

Vol 14, PW 8 (07 Oct 10) News in Brief

ONGC director finance DK Sarraf is tipped to become the next ONGC Videsh managing director, replacing RS Butola who was selected as the new IndianOil chairman on September 29.

Sarraf is well-placed to become OVL managing director as he was previously its director finance, between 2005 and 2007. “There’s a strong chance he could return to OVL,” says an observer.

Sarraf and ONGC director offshore Sudhir Vasudeva “don’t get along” but oil minister Murli Deora wants Vasudeva to become ONGC chairman. “Sarraf should move out as Vasudeva’s selection as chairman is imminent,” we hear.

“Sarraf could be the boss at OVL but at ONGC he’d report to someone who became a director after he did.” Another possibility is that Sarraf could temporarily assume the role of OVL MD until the PESB formally replaces Butola.

“This temporary appointment could be converted into a full-time post after PESB interviews,” we hear. Other strong contenders are D.

Rajkumar from BPCL and PK Bhowmick from ONGC.