Ajay Sawhney to head Oil India -Governance Now

Ajay Sawhney to head Oil India

Sawhney, additional secretary in petroleum ministry, would hold the post for three months

GN Bureau | June 1, 2016

#crude output #Ajay Prakash Sawhney #Oil India

The government has entrusted Ajay Prakash Sawhney, additional secretary in the petroleum ministry, with the charge of chairman and managing director (CMD) of Oil India (OIL), the Financial Express reported. Sawhney would hold the top post at oil PSU only for three months starting June 1, as per a government order issued on May 30.

The move comes after UP Singh, the incumbent CMD of PSU oil explorer who was also additional secretary in the petroleum ministry, was transferred to the ministry of water resources.

However, Oil India has been without a full-time CMD since Sunil Kumar Srivastava retired on June 30 last year. There have been three failed attempts by the Public Enterprises Selection Board (PESB) to find a suitable person to head the government-run oil explorer.

Oil India has seen its crude output falling for fourth straight year in the last fiscal. OIL’s crude oil production in FY 16 was 3.245 million tonnes (mt), 6% lower than in FY15. In FY16, OIL saw the decline in production from its older fields at a steep 20%.

Comments

Other News

`Focus on infra, reforms, digital connectivity has created strong foundation for growth`

In a step towards the operationalisation of the Bharat Audyogik Vikas Yojana (BHAVYA), union minister of commerce & industry Piyush Goyal launched the BHAVYA Portal on Monday in New Delhi. Addressing the gathering, Goyal said that the BHAVYA scheme will adopt a competit

Govt, RBI announce major reforms to attract FPI

The finance ministry on Friday announced a series of measures aimed at enhancing the ease of investment for individual Persons Resident Outside India (PROIs) and Foreign Portfolio Investors (FPIs), and to attract stable long-term foreign capital flows. Building on the recent in

Lessons in climate adaption from world’s largest inhabited river island

Majuli Island, perched between the Brahmaputra River to the south and east, the Subansiri River to the west, and a branch of the Brahmaputra to the north, has been severely affected by recurrent flooding and intense riverbank erosion. Despite its global importance in acquiring UNESCO tentative status for

Careless whispers and the impossible trinity

Time can never mend, the careless whispers of … As the RBI marches ahead, for the upcoming monetary policy meeting this June, whispers from the corridors echo around several policy options to defend the rupee – by deploying forex reserves, raising in

Bullet Train Project: Third mountain tunnel breakthrough achieved

A major engineering milestone has been achieved in the Mumbai–Ahmedabad Bullet Train Project with the successful breakthrough of the third mountain tunnel (MT-07) at Ambesari village in Dahanu Taluka of Palghar district, Maharashtra. With this achievement, three mountain

Supreme Court gets five new judges

Five new judges were appointed to the Supreme Court of India on Monday. "Vide Notifications of even number dated 01.06.2026, in exercise of the powers conferred by clause (2) of Article 124 of the Constitution of India, the Hon’ble President of India is pleased to appoint (i) Shri