Policy
Salman Khurshid’s Visit To Iran Unlikely To Yield Much
more...


OVL’s Differing Strategy For Bangladesh And Myanmar
more...


PLL’s Recent Agreement Furthers A Trend
more...


Much Conjecture On OVL’s Future Status
more...


Energy Insurance Pool Plan Facing Problems
more...


PSC Should Factor In Incentives For North East Oil Exploration
more...

Regulation
BHP Billiton Refuses To Accept MoD Conditions For PSC Blocks
more...


Cairn Opposes Declaration Of Commerciality, FDP
more...


ONGC Plans Early Monetisation Of Discoveries in Cauvery Blocks
more...


DGH, GAIL Differ On Oil Discovery In Rajasthan Block
more...


BPRL Seeks Waiver Of Acquisition Of 2D seismic Data
more...

Alternative Energy / Fuel
MoPNG To Decide On Price Of Ethanol
more...

New Projects
Linde To Build Major Plant Complex For RIL
more...


Kochi R-LNG Terminal To Be Commissioned This Year
more...


IOC's Shale Oil Project Makes Some Progress
more...


CCI Clears Several Projects In Oil, Gas Block Sector
more...

Market Watch
India A Net Exporter Of Petroleum Products Since 2001-02
more...


Market Report : Bitumen
more...


Market Report - Gas Turbines
more...


Market report : LPG Cylinders
more...


Market Report - Lubricants
more...


Market Briefing Report : Methyl Tertiary Butyl Ether (MTBE)
more...


Market Briefing Report : ATF (Jet Fuel)
more...

Companies
WesternGeco
more...


ONGC Gets Exploration Lead In Deep-water KG Block
more...


PLL Seeks Stake In GSPC’s LNG terminal
more...


OVL Raises $800 M To Fund Asset Buys In Azerbaijan
more...


Jubilant Announces Spudding Of Third Well
more...

Press Release [FREE Access]
Petro Intelligence » Purification Rite: Stop The Torment

Sudhir VasudevaThere seems to be a tripwire at work whenever promotions to sensitive positions are decided. Nowhere is this more evident than at Oil and Natural Gas Corporation (ONGC), the Rs 761 Billion blue-chip public sector company that now straddles the universe as one of the most valued corporates in the country.

ONGC’s pre-eminent position in the pecking order also has a rub-off effect on its top executives: its chief executive and directors are fawned upon and acquire a patina of respect that their counterparts in lesser institutions can never hope to attain.

P.K. BorthakurIt’s this sheen that also fosters incredible jealousy. In a world of crabs, no one likes to see a contemporary elevated to a pole position without the slightest hitch. But what makes it even more agonising for people who make the cut is the fact that the interegnnum between their selection by the Public Enterprises Section Board and their eventual appointment has turned into a period in the purgatory – a time for torment when every whispered rumour, every suspected derring-do is trawled for validation.

It’s almost impossible to find anyone with clean hands, given the way that the corrupt Indian system works. If the situation is bad in government, it’s worse in the PSUs – especially in the oil sector – which are forced to surreptitiously make contributions to the election corpus of the party in power. This is a political reality that we have to live with. Prime Minister Manmohan may have a squeakly clean image but he has had to live with a Congress fundraiser like Murli Deora in the petroleum ministry.

S.V. RaoInsinuations will always fly; reputations will be torn to shreds every time that someone is in the running for a pre-eminent position. That is par for the course. But all of this should play itself out before the worthy is selected by the PESB. Once they have been recommended for a position, the torment should stop. Any complaint after that process should be consigned to the dustbin. The reverse happens in India. As soon as someone is shortlisted for a position, anonymous letters start flying around to discredit the candidate and wreck his chances. What is worse is that forged epistles on the letter heads of members of parliament are circulated to torpedo somebody’s ambitions.

The latest victim of such a diabolic tirade is P.K. Borthakur, an executive director with ONGC who has been recommended for the post of director (offshore). This is an important post considering the quantum of high value contracts it handles every year.

Narendra Vermawww.indianoilandgas.com predicted weeks before the interview that he had an edge over others in the race. The PESB recommended his name for the post of director (offshore). But his appointment was stalled for months as sleuths pored over some wild charge levelled against him by his detractors. He has since been cleared. The file now goes to the Appointment Committee of the Cabinet.

One more director’s position will fall vacant shortly. S.V. Rao, director (exploration), is due to retire by the end of the year. On present reckoning, there will be a dozen candidates in the race. Fortunately, this is one post where the candidate will be picked on merit alone and won’t have to drum up resources, court influence in the corridors of power and curry favours.

Rao has enjoyed a clean professional reputation and this has worked in his favour. His successor can also be picked using the same template of competence and virtues. If that happens again, Narendra K. Verma, director of ONGC Videsh at present, may be picked to fill the slot.



To download the latest issue 'Volume 20 Issue 3 - May 10th 2013', click here
Petro Intelligence [FREE Access]
Taking For A Neat Ride?
more...

Oily Moily Gets His Way
more...

Foreign Investment
Oilex Quarterly Report To Shareholders
more...

Overseas Investment
China And India To Slog It Out Over Kazakhstan’s Kashagan Field
more...


Essar’s Stanlow Refinery To Get Larger Market Share
more...


Jindal Petroleum Discovers Oil In Georgia; To Spend $100 Million
more...

Gas Scene
Year –Wise Profit Petroleum Share From Sale Of KG D 6 Gas And Royalty Paid
more...


Comprehensive Data on CNG/PNG Business
more...


Netback price of Indian imports of LNG, Average Of Pricing Prevailing At Trading Points Of Transactions
more...


Existing Gas Pipeline Capacity in the country, Capacity utilization of GAIL pipelines, Details of upcoming pipelines
more...


LNG price goes up with distance to the landing point?
more...


India & US Renews MoU In Gas Hydrates
more...


LNG Based On Henry Hub From US Is Rated Cheaper For Indian Importers.
more...


Who is cheating whom?
more...


Note on the present production status of D1, D3 Gas Fields and MA Oil Field in KG-DWN-98/3 (KG-D6) Block (As on 14th January, 2013)
more...


Gas Availability For GAIL For Marketing & Transmission In 2013-14
more...


Production status of D1, D3 Gas Fields and MA Oil Field in KG-D6 Block (As on 31st December, 2012)
more...


Pricing Of Gorgon LNG, Qatar Gas LNG Contracted by Petronet LNG Ltd
more...


RLNG Sources for India, Importers, Quantity Imported
more...


Domestic Sources Of Natural Gas Supply, Selling Price, Quantity
more...


List of Stranded Projects Awaiting Allocation of Gas
more...


Expected Re-gasification Capacity In The Next Five Years
more...

Data Section
Monthly Upstream Data
Monthly Downstream Data
Historical database
Data Archives
Special Database
DGH Notices To contractors Of Four Blocks For Non-submission of Bank Guarantees for F.Y 2013-14
more...


Difference between RIL and CAG On Audit of KG D6
more...


Cost of production of LPG from Natural Gas, Crude Oil
more...


How many rigs will ONGC substitute in FY 2013-14, how many additional rigs to be hired, rig month required for development work load?
more...


The estimated amount of subsidy to be saved by dual pricing of diesel
more...


Retail Selling Price of AUTOMOTIVE FUELS in Indian cities, Updated as on 1st May 2013
more...


Quantity of imported & domestic crude processed in last 5 years, capacity utilization of refineries, Products Produced.
more...


Quantity and Value of Products Imported by the Oil Companies during last Five Years
more...


The trend of consumption of petroleum products during the last five years
more...


India’s Increasing Dependence On Imported Crude Oil.
more...


Details Of 26 Discoveries Made By ONGC In 15 NELP Blocks
more...


A brief DGH Note on the present production status of D1, D3 Gas Fields and MA Oil Field in KG-DWN-98/3 (KG-D6) Block (As on 25th February, 2013)
more...


Package-wise Physical Progress of IOC’s Paradeep Refinery Project as of December 2012
more...


Status of BRPL’s Exploration and Field Development in Overseas Blocks (Till 31st December, 2012)
more...


The FDP capex changes in Vietnman Block 6.1
more...


ONGC Videsh Ltd.: Details of the Revised Estimate (RE) for the current FY 2012-13 and Budget Estimate (BE) for 2013-14
more...


List of documents already submitted to CAG Audit team and the status of those documents which have been sought by CAG team but not submitted so far
more...


Retail Selling Price of Sensitive Petroleum Products In India And Neighbouring Countries
more...

Tenders [FREE Access]
Indian Oil Corporation Limited
more...


Indian Oil Corporation Limited
more...