India’s biggest oil and gas producer, ONGC, has confirmed the appointment of Dinesh K Sarraf as the Chairman and Managing Director of Oil and Natural Gas Corp (ONGC) on April 22nd. Sarraf who was selected as the head of the ONGC by the previous UPA government in August 2013, took charge on March 1st 2014. According to the rules of the appointment to the boards of public sector companies, the post will have to be reconfirmed after one year, and a letter reconfirming Sarraf’s appointment was issued on Monday.
The ONGC went through a tough time with the new Oil Minister Dharmendra Pradhan monitoring its performance on a monthly basis. Dharmendra had requested a post-retirement extension for Sudhir Vasudeva, which was rejected and Sarraf was selected.
Knowledge is Wealth:
- ONGC: Oil and Natural Gas Corp
- ONGC is headquartered in Dehradun, India and founded on 14th August 1956
- ONGC is India’s largest oil and gas Company and it produces 69% of India’s Crude oil. (30% of country’s demands)
- It is a PSU (Public Sector Undertaking) of the Govt. of India.
- The administration of ONGC is controlled by Ministry of Petroleum and Natural Gas.