Government headhunters Public Enterprise Selection Board selected Srinivasan after interviewing 11 candidates at its office in New Delhi on Tuesday.
Or Iran may face the risk of losing its biggest client
The panel, however, set some conditions for the company, including that Cairn India will have to upload the status of environment compliance, including results of monitored data, on its website and update it periodically.
The Petroleum Ministry has asked the oil regulator to look into the marketing margin charged by not just Reliance Industries, but also state-owned GAIL India Ltd on the sale of domestic gas and imported LNG.
Finance Minister P Chidambaram had last week stated that there were demands from 'several chief ministers' for raising the quota of subsidised cylinders and the government 'will look into' them.
Petroleum Ministry is considering cutting down the number of independent directors on board in an oil PSU to 33%.
The ministry had previously wanted to disallow $1.235 billion expenditure that RIL had incurred on putting production facilities at the Bay of Bengal gas fields but in the 7-page notice it sent to the company on May 2, the cost to be disallowed was put at $1.462 billion, sources privy to the development said.
India's fuel demand in May slumped to its lowest in nine months as restrictions to curb the second wave of COVID infections stalled mobility and muted economic activity. Fuel demand fell 1.5 per cent to 15.1 million tonnes despite the low base of May 2020 and was down 11.3 per cent when compared to the previous month, according to data from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry. India was under one of the world's strictest lockdowns in May last year, which brought all mobility and economic activity to a grinding halt.
The petroleum ministry has sought expansion of the legal team that is to argue the government's stand on the gas dispute between the Ambani brothers before the Supreme Court beginning next week.
In its first decision, the Cabinet Committee on Investment (CCI) on Wednesday cleared Reliance Industries' producing KG-D6 block and gas discovery area NEC-25 along with 3 other areas where the Defence Ministry had either barred oil and gas activity or put stringent conditions on that.
