ONGC MD Butola set to become IOC chief
New Delhi   30-Sep-2010

ONGC Videsh managing director Ranbir Singh Butola is set to become the new chairman of IndianOil (IOC). The Public Enterprise Selection Board (PESB) - a government committee that screens talents for top positions in state-run companies - named Mr Butola as its first choice after interviewing six candidates, officials with direct knowledge of the matter said. The post of IOC chairman fell vacant after the government declined to extend services of Sarthak Behuria. Mr Butola is known for his aggressive strategy in acquiring oil and gas assets abroad as the managing director of Oil & Natural Gas Corp's (ONGC) foreign arm ONGC Videsh (OVL).