ONGC VIDESH LIMITED

gupta-tipped-as-md-ongc-videsh-a-post-vacant-since-february-2019-an-inside-story

Gupta tipped as MD, ONGC Videsh, a post vacant since February 2019: An inside story

If some well-placed sources are to be believed the search-cum-selection-committee (SCSC) on Thursday recommended the name of Atul Kumar Gupta (Director- Operations, OVL) for the post of Managing Director, ONGC Videsh Limited (OVL); India's flagship firm for acquisition of oil and gas assets abroad.

Reportedly, over a dozen candidates were called for interaction including few senior IAS officers for the post which is lying vacant since 01 February 2019 after Narendra K Verma retired on 31 January 2019. Subject to requisite clearances and ACC approval he will become new MD of OVL.

After keeping the post vacant for nearly a year the NaMo Govt in January 2020 constituted the SCSC inviting applications by 06 February 2020.

It would be interesting to mention that the PESB had started the hunting process of MD, OVL  well on time i.e. six months prior to the post falling vacant. The Petroleum Ministry, reportedly, wanted SCSC route instead of the PESB route but differences with several departments over bureaucrats applying delayed the process.

The post was exempted from the 'Rule of immediate absorption' (i.e. resigning from service) and candidates (JS level and above) were allowed to apply on a deputation basis. If some insiders are to be believed the Oil Ministry was inclined to post an IFS officer on a deputation basis but it somehow it could not happen.

Finally, the SCSC has recommended Alok Kumar Gupta’s name for MD, OVL; a wholly-owned subsidiary of ONGC with over 40 projects in 19 countries and investment worth USD 29.28 billion. Ironically, in the absence of a regular incumbent OVL did not make a single acquisition in 2019.

12 Jul 2020
ongc-q2-net-profit-drops-over-36-per-cent

ONGC Q2 net profit drops over 36 per cent

Public Sector oil company ONGC reported a 36.2% drop in second quarter net profit as it faced double whammy of fall in oil production and drop in prices. Net profit in July-September quarter reported at Rs 5,276 crore that was 36.2 per cent lower than Rs 8,271 crore profit after tax in the corresponding period last year.

Revenue fell to 10.5 per cent to Rs 1.01 lakh crore. Oil production fell 3.9 per cent to 5.8 million tonnes while gas output fell 1.6 per cent to 6.2 billion cubic metres. The company got $60.33 for every barrel of crude oil it produced and sold, down from $73.07 realisation a year back. Gas price realisation, however, was up 20 per cent at $3.69 per million British thermal unit.

15 Nov 2019
gupta-tipped-as-md-ongc-videsh-a-post-vacant-since-february-2019-an-inside-story

Gupta tipped as MD, ONGC Videsh, a post vacant since February 2019: An inside story

By IndianMandarins 12 Jul 2020

If some well-placed sources are to be believed the search-cum-selection-committee (SCSC) on Thursday recommended the name of Atul Kumar Gupta (Director- Operations, OVL) for the post of Managing Director, ONGC Videsh Limited (OVL); India's flagship firm for acquisition of oil and gas assets abroad.

Reportedly, over a dozen candidates were called for interaction including few senior IAS officers for the post which is lying vacant since 01 February 2019 after Narendra K Verma retired on 31 January 2019. Subject to requisite clearances and ACC approval he will become new MD of OVL.

After keeping the post vacant for nearly a year the NaMo Govt in January 2020 constituted the SCSC inviting applications by 06 February 2020.

It would be interesting to mention that the PESB had started the hunting process of MD, OVL  well on time i.e. six months prior to the post falling vacant. The Petroleum Ministry, reportedly, wanted SCSC route instead of the PESB route but differences with several departments over bureaucrats applying delayed the process.

The post was exempted from the 'Rule of immediate absorption' (i.e. resigning from service) and candidates (JS level and above) were allowed to apply on a deputation basis. If some insiders are to be believed the Oil Ministry was inclined to post an IFS officer on a deputation basis but it somehow it could not happen.

Finally, the SCSC has recommended Alok Kumar Gupta’s name for MD, OVL; a wholly-owned subsidiary of ONGC with over 40 projects in 19 countries and investment worth USD 29.28 billion. Ironically, in the absence of a regular incumbent OVL did not make a single acquisition in 2019.

ongc-q2-net-profit-drops-over-36-per-cent

ONGC Q2 net profit drops over 36 per cent

By IndianMandarins 15 Nov 2019

Public Sector oil company ONGC reported a 36.2% drop in second quarter net profit as it faced double whammy of fall in oil production and drop in prices. Net profit in July-September quarter reported at Rs 5,276 crore that was 36.2 per cent lower than Rs 8,271 crore profit after tax in the corresponding period last year.

Revenue fell to 10.5 per cent to Rs 1.01 lakh crore. Oil production fell 3.9 per cent to 5.8 million tonnes while gas output fell 1.6 per cent to 6.2 billion cubic metres. The company got $60.33 for every barrel of crude oil it produced and sold, down from $73.07 realisation a year back. Gas price realisation, however, was up 20 per cent at $3.69 per million British thermal unit.

ovl:-a-k-gupta-appointed-director-(ops)

OVL: A K Gupta appointed Director (Ops)

By IndianMandarins 03 Sep 2019

Alok Kumar Gupta (ED, ONGC) was on Monday appointed to the post of Director (Operations) in ONGC Videsh Limited (OVL) till his superannuation i.e. 30.06.2022.


ovl:-gupta--selected-for-the-post-of-director-(ops)

OVL: Gupta Selected for the post of Director (Ops)

By IndianMandarins 20 May 2019

The public sector headhunter (PESB) on May 20, 2019 selected  Alok Kumar Gupta for the post of Director (Operations), ONGC Videsh Limited (OVL). Presently, he serves as Group General Manager, Oil & Natural Gas Corporation Limited (ONGC).

Altogether, Seven candidates were interviewed by the selection board.

iocl-&-ongc-videsh-ltd:-two-board-level-posts-on-offer

IOCL & ONGC Videsh Ltd: Two Board-level posts on offer

By IndianMandarins 18 Jan 2019

The PESB, on Friday, advertised two board-level positions in Indian Oil Corporation (IOCL) and ONGC Videsh Limited (OVL). Last date for submission of the application for both positions is 29 March 2019.


The post of Director (Operations) OVL is scheduled to fall vacant on 01 March 2019 whereas the post of Director (Refineries) in Indian Oil Corporations Ltd (IOCL) will be falling vacant on 01 August 2019.

chaturvedi-appointed-director,-ovl

Chaturvedi appointed Director, OVL

By IndianMandarins 10 Aug 2018

Girija Shankar Chaturvedi appointed to the post of Director (Exploration) in ONGC Videsh Limited (OVL) for a period of five years. Chaturvedi (Group GM, ONGC) will take over on 01 October 2018 following the retirement of Sudhir Sharma on 30 September 2018.

 

It may be noted that PESB had selected Chaturvedi for the post on 27 April 2018.

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