Weekly media update 20 12_2021

670
(This document comprises news clips from various media in which Balmer Lawrie is mentioned, news
related to GOI and PSEs, and news from the verticals that we do business in. This will be uploaded on
intranet and website every Monday.)
FY22 growth forecast lowered to 9.7%:
ADB
The Asian Development Bank has lowered its
growth forecast for India for FY22 to 9.7% due to
supply chain disruptions. This is the second time
in three months that the multilateral lender has
lowered India's growth projection. The ADB had
projected a growth rate of 10% for FY22 in
September. The ADB had in September revised
India's economic growth forecast for FY22
downwards to 10 % cent from 11% projected,
citing the adverse impact of the second wave of
the pandemic “The reduction of 0.3% points
comes amid supply chain issues that are affecting
industry. India's outlook for FY22 is maintained at
7.5%, as domestic demand is expected to
normalise," a ADB report said Tuesday. In a
supplement to the Asian Development Outlook
(ADO) 2021, the Manila-based lender projected
South Asia to grow at 8.6 % in 2021, compared
with September's forecast of 8.8%. The growth
outlook for developing Asia for 2021 was also
lowered to 7% and 5.3% for 2022 on account of
slower growth in the third quarter due to the new
variant.
The Economic Times - 15.12.2021
https://epaper.timesgroup.com/olive/odn/theeco
nomictimes/shared/ShowArticle.aspx?doc=ETKM
%2F2021%2F12%2F15&entity=Ar01714&sk=90
7714EE&mode=text
Business activity grows to new high
despite Omicron threat, says Nomura
Despite fears of the Omicron variant, business
activity touched an all-time high since the onset
of the pandemic for the week ended December
12, a Japanese brokerage said on Monday. The
Nomura India Business Resumption Index
(NIBRI), which compares the activity for a
particular week as against the one before the
onset of the pandemic, rose to 115.8 from the
112.9 for the previous week. "Despite Omicron
risks, neither policy restrictions nor public fear
factor appear to have had any impact on
mobility so far, which is supporting a further
normalisation in services," it said in a
statement. Mobility indicators rose for the
week, led by a 4 percentage point (pp) uptick in
the Google mobility index, 2 pp increase in retail
and recreation index, while the Apple driving
index rose 2.9 pp. The labour participation rate
picked up to 41.4 per cent from 40.5 per cent -
- its highest in eight weeks -- and power
demand reversed last week's fall with a 3.7 per
cent gain, it added. After supply-constraint
induced declines in August and September,
industrial output growth rose sequentially in
October, although its pace appears to be
plateauing.
Business Standard - 14.12.2021
https://www.business-
standard.com/article/current-affairs/business-
activity-grows-to-new-high-despite-omicron-
threat-says-nomura-121121400065_1.html
India's GDP to grow 8.2% in FY23, RBI
to hike rates by 100 bps: BofA
The new year will herald India's return to normalcy
and witness the growth momentum gaining
steam, an American brokerage said on
Wednesday, pegging the real GDP growth
estimate at 8.2 per cent for FY2022-23. Bank of
America said the country entered 2021 on an
optimistic note with recovering economic growth
and well contained inflation, but the tragic second
wave rocked the boat, led to the return of supply
shortages and exerted pressure on prices. "We see
2022 as the year of much awaited normalcy and
normalisation for India. We expect growth
Strong rebound, 10% growth in
current fiscal: CEO Poll
The Indian economy is all set for a strong
rebound in the current fiscal year and post a
growth rate of 9-10%, a majority of the CEOs
responded to a poll conducted by industry body
CII said. A number of CEOs, however, appeared
worried about the impact of the new Omnicron
variant of Covid-19 on services and the
manufacturing sector. According to the CEO
poll, 56% of the respondents indicated that the
economy would grow in the range of 9% to 10%
in the fiscal year ending March 31, 2022, while
another10% expected the growth rate to be in
WEEKLY MEDIA UPDATE
Issue 532
20 December, 2021
Monday

recovery to gain steam, driven by consumption,"
the brokerage said in its outlook for the new year.
The low vaccination rates and the emergence of
the Omicron variant were flagged as factors which
are creating "considerable uncertainty" for
growth, which will be lower than FY22's 9.3 per
cent on base effects. From a sectoral perspective,
growth in agriculture, forestry and fishing will
come at 3.5 per cent in FY23, as against 4 per cent
in FY22, industry (7.1 per cent versus 10 per
cent), manufacturing (7 per cent versus 10 per
cent), while services are estimated to grow at 7.9
per cent in FY23 as against 9 per cent in FY22.
https://www.business-standard.com/article/pti-
stories/gdp-to-grow-8-2-pc-in-fy23-rbi-to-hike-
rates-by-100bps-121121500867_1.html
excess of 10%, the CII said. The respondents
were also upbeat on sentiments regarding their
business, with 35% of the CEOs eyeing a 10-
20% increase in revenue this year from the pre-
Covid year of 2019-20, and another 33%
expecting a bigger jump of more than 20%, the
CII said in a release on Sunday. “Government's
strong emphasis on public works, timely
interventions to boost liquidity and several
reforms carried out in the recent months
including easing regulations, production-linked
incentives scheme, RoDTEP (Refund of Duties
and Taxes on Exported Products) and several
other bold reforms have buoyed the optimism
on higher economic growth," CII president TV
Narendran said.
https://epaper.timesgroup.com/olive/odn/thee
conomictimes/shared/ShowArticle.aspx?doc=E
TKM%2F2021%2F12%2F20&entity=Ar01308&
sk=04092992&mode=text
WPI inflation at all-time high
Surging vegetable and energy prices pushed up
India’s wholesale inflation to an all-time high of
14.2% in November, triggering concern that it
would lead to the hardening of retail inflation as
well. This is the eighth successive month
wholesale inflation has been in the double digits.
“The spike in WPI inflation to a fresh all-time high
of 14.2% in November has come as a shock,
especially with most non-core categories
displaying an inflation rate that was much steeper
than expected,” said Aditi Nayar, chief economist,
ICRA. Data released by the commerce and
industry ministry on Tuesday showed a 2.7%
month-on-month rise as against a 1.2%
sequential increase in October. India’s retail
inflation was at a three-month high in November.
The wholesale price index (WPI)-based inflation
was 2.29% in November 2020 and12.5% in
October this year. In the case of vegetables, it
swung from -18.5% in October to 3.91% in
November. Core WPI inflation moved to a record
high of 12.3% in November from11.9% in
October.
%2F2021%2F12%2F15&entity=Ar01713&sk=48
860750&mode=text
Retail inflation up at 4.9% in Nov on
oil, fuel prices
Retail inflation picked up pace in November to
reach 4.9% compared with 4.5% in the
previous month, driven by edible oil and fuel
prices, which also impacted transport costs.
Latest data released by the government on
Monday showed that oil and fat segment saw a
near 30% spike in prices, while the increase in
case of fuel and light was over 13%. Clothing
and footwear saw the third biggest jump, rising
close to 8%. Vegetable prices were one of the
factors for higher inflation, but they softened by
13.6% in November. The reduction in fuel taxes
helped soften inflation. “A moderation in the CPI
inflation for fuel and light, pan, tobacco and
intoxicants, and miscellaneous items was
outpaced by the rise in the inflation for food and
beverages, housing, and clothing and footwear.
The impact of fuel tax cuts helped to douse the
transport and communications sub-index by
0.6% in November 2021 in month-on-month
(MoM) terms. However, all the other categories
of miscellaneous items displayed a hefty MoM
rise, ranging from 0.2% for education to a sharp
0.9% for personal care and effects,
underscoring the growing price pressures in the
economy,” ICRA chief economist Aditi Nayar
said in a note.
The Times of India - 14.12.2021
https://epaper.timesgroup.com/olive/odn/time
sofindia/shared/ShowArticle.aspx?doc=TOIKM
%2F2021%2F12%2F14&entity=Ar01714&sk=
87F3AE85&mode=text

With PLI schemes & global demand
recovery, India exports likely to fly high
in New Year
After staging a strong recovery from COVID-
induced slowdown in 2021, India's exports are
likely to extend the growth story to the New Year
also on increased demand in the global markets,
boost in domestic manufacturing due to
production-linked incentive schemes and
implementation of some interim trade pacts.
Expectations of positive growth in the country's
exports are also backed up by the outlook of the
World Trade Organisation (WTO) which predicts a
4.7 per cent expansion in the global merchandise
trade volume in 2022. Exporters believe that the
outbound shipments would cross USD 400 billion
mark in this fiscal going by the current momentum
and may reach USD 475 billion in 2022-23.
However, the growth and global demand will also
depend on whether the countries would be able to
contain Covid-19 and the new variant Omicron
through massive vaccination worldwide, they
suggest.
https://energy.economictimes.indiatimes.com/ne
ws/oil-and-gas/with-pli-schemes-global-demand-
recovery-india-exports-likely-to-fly-high-in-new-
year/88376516
Centre on PSUs Disinvestment: 36
CPSEs to get in-principle approval
One of the primary topics to focus on, nowadays
the government is taking disinvestment process
of PSUs on the priority basis, in his recent reply
to the Lok Sabha Minister of State for finance
Bhagat Kishanrao Karad said, since 2016 the
disinvestment has given the 'in-principle'
approval for disinvestment of public sector
companies which includes joint venture,
Subsidiaries, Banks. However, he said,
disinvestment of government equity in public
sector units depends largely on market
sentiment, investor interest, and market
valuation of stocks. The government also
revised the estimate for the 2020-2021
disinvestment which stands Rs 32, 000 crores
slightly lower than the 2019-2020
disinvestment. Along with IDBI Bank, BPCL, and
units of SAIL the Government on Monday gave
the list of 36 PSUs that the finance ministry
decided 'in-principle' to disinvest and privatize.
PSU Connect - 14.12.2021
https://www.psuconnect.in/news/centre-on-
psus-disinvestment:-36-cpses-to-get-in-
principle-approval/30506
Privatisation: How changing tracks aided
Air India, derailed BPCL sale
Changing tracks helps. But, not taking the beaten
path isn't always helpful. This is the story of two
of India's biggest privatisations - Air India and
Bharat Petroleum (BPCL). Nearly two decades
after the last privatisation, a landmark divestment
concluded this year when the loss-making national
carrier Air India was sold to the Tatas. This was
made possible only after the government changed
the track from selling 76 per cent of its stake in
the national carrier to putting on block its entire
100 per cent holding as well as giving bidders an
option of deciding how much debt they were
willing to take over. But in the case of BPCL, the
government ignored suggestions of following its
time-tested policy of putting on block 26 per cent
stake along with management control, just like it
had done in the case of Hindustan Zinc and Balco.
Instead, it offered its entire 52.98 per cent in the
company operating in a sunset sector. The result
- just three bids came in, and two of them
struggled to arrange for finances for the
acquisition which going by current market value
should not be less than USD 10-12 billion.
ws/oil-and-gas/privatisation-how-changing-
tracks-aided-air-india-derailed-bpcl-
sale/88375698
Public sector oil cos spent Rs 5,582 cr
under CSR: Govt
The Minister of State for Petroleum and Natural
Gas, Rameswar Teli in a written reply to a
question in the Rajya Sabha on Monday
informed that Public Sector Oil Companies have
been earmarking two per cent of their average
Net Profits made during the three immediately
preceding financial years as per Section 135 of
the Companies Act and the CSR activities are
undertaken under the heads identified under
Schedule VII of the Companies Act 2013. Public
Sector Oil Companies have spent Rs 5,582.34
crore under CSR in various parts of the country
during the last three years (2018-19 to 2020-
21). The State/project/activities wise details of
CSR activities undertaken and funds spent
thereon during the last 3 years are available on
the respective websites of the Public Sector Oil
Companies. Public Sector Oil Companies have
been doing impact assessment exercise of some
of their major CSR projects internally or through
external agencies. However, as per changes
made in CSR rules by Ministry of Corporate
Affairs in January, 2021, it has been decided
that impact assessment of CSR projects having
outlays of one crore rupees or more, shall be
undertaken through an independent agency.
Millennium Post - 14.12.2021

http://www.millenniumpost.in/business/public-
sector-oil-cos-spent-rs-5582-cr-under-csr-
govt-461646
India says oil producers artificially
adjusting oil supply leading to price rise
India, the world's third-largest oil importer and
consumer, on Monday said oil prices have to be
reasonable and market-determined as it
expressed concern over rise in rates on supplies
being artificially adjusted below demand by
producing countries. With a rise in international oil
prices pushing retail petrol and diesel rates to
record high, India last month agreed to release
five million barrels of crude oil from its Strategic
Petroleum Reserves, Minister of State for
Petroleum and Natural Gas Rameswar Teli said in
a written reply to a question in the Rajya Sabha.
This was being done "in consultation and parallelly
with other major global energy consumers
including the USA, People's Republic of China,
Japan and Republic of Korea", he said. "This step
is being taken in a bid to control inflationary
pressures and provide relief to citizens." This is
the first time ever that India, which stores 5.33
million tonnes or about 38 million barrels of crude
oil in underground caverns at three locations on
the east and west coast, is releasing stocks for
such purposes.
https://economictimes.indiatimes.com/industry/e
nergy/oil-gas/india-says-oil-producers-artificially-
adjusting-oil-supply-leading-to-price-
rise/articleshow/88256944.cms
Omicron impact on world oil demand to
be 'mild and short-lived': OPEC
The Organization of the Petroleum Exporting
Countries on Monday left its forecast for global
oil demand unchanged, saying it expected the
spread of the omicron variant of the coronavirus
that causes COVID-19 to have little lasting
impact. "The impact of the new omicron variant
is expected to be mild and short-lived, as the
world becomes better equipped to manage
COVID-19 and its related challenges," OPEC
said in its monthly report. OPEC still expects
demand growth of 5.7 million barrels a day this
year, reflecting a boost to first-half demand that
was offset by a downward revision to third-
quarter consumption due to a rise in COVID-19
cases and softer industrial production in China,
as well as an easing recovery in transportation
fuel consumption in India. Fourth-quarter 2021
oil demand was also adjusted slightly lower to
account for COVID-19 containment measures
and the potential impact of the omicron variant.
For 2022, the forecast for demand growth was
left unchanged at 4.2 million barrels a day, with
some of the recovery previously pencilled in for
the current quarter shifted to the first quarter
of next year, "followed by a more steady
recovery" throughout the second half of 2022,
the report said.
Market Watch - 14.12.2021
https://www.marketwatch.com/story/omicron-
impact-on-world-oil-demand-to-be-mild-and-
short-lived-opec-2021-12-13
Oil rises on optimism Omicron impact
will be limited on fuel demand
Oil prices rose on Monday, extending gains from
last Friday, helped by growing optimism that the
Omicron coronavirus variant's impact will be
limited on global economic growth and fuel
demand. Brent futures climbed 53 cents, or 0.7%,
to $75.68 a barrel by 0100 GMT, after rising 1%
on Friday. U.S. West Texas Intermediate (WTI)
gained 69 cents, or 1.0%, to $72.36 a barrel,
following a 1% increase in the previous session.
Both benchmarks posted gains of about 8% last
week, their first weekly gain in seven. They have
recovered more than half the losses suffered since
the Omicron outbreak on Nov. 25. "Market
sentiment has improved as the threat of the
Omicron variant has receded," said Toshitaka
Tazawa, an analyst at Fujitomi Securities Co Ltd.
"WTI will probably test its recent high of $73.34
Centre to release 5 million barrels
crude oil from strategic reserves
The government has agreed to release 5 million
barrels of crude oil from its strategic petroleum
reserves in consultation with other global
energy consumers, Union Minister of State for
Petroleum and Natural Gas Rameswar Teli in a
written reply to a question in the Rajya Sabha
said on Monday. Indian Union Muslim League
(IUML) MP from Kerala Abdul Wahab raised the
question in Rajya Sabha "whether there is any
move to release oil from India's strategic
reserves in coordination with other countries."
In a written reply, the Union Minister said that
in order to provide relief to citizens the
government of India agreed to release 5 million
barrels of crude oil from its Strategic Petroleum
Reserves, in consultation and parallelly with
other major global energy consumers including

and then try to rise towards $78, the level before
the Omicron fears led to a sharp sell-off late last
month," he said. South African scientists see no
sign that the Omicron variant is causing more
severe illness, they said on Friday, as officials
announced plans to roll out vaccine boosters with
daily infections approaching an all-time high.
https://www.business-
standard.com/article/international/oil-rises-on-
optimism-omicron-impact-will-be-limited-on-fuel-
demand-121121300117_1.html
the USA, People's Republic of China, Japan and
the Republic of Korea.
https://energy.economictimes.indiatimes.com/
news/oil-and-gas/centre-to-release-5-million-
barrels-crude-oil-from-strategic-
reserves/88274172
Domestic natural gas output rises 23%
Domestic natural gas production increased 23% to
2,868 million standard cubic metre (mscm) in
November on a year-on-year (y-o-y) basis, mainly
due to higher production from Reliance Industries
(RIL) and from BP’s ultra-deep-water field in the
KG-D6 Block of the Krishna Godavari basin on the
east coast. The output had fallen 8.1% Y-o-Y to
28,670.6 mscm in FY21, but had subsequently
increased 21% y-o-y to 16,890.9 mscm in the
April-September period of the ongoing fiscal.
Production also commenced on August 31 from
state-run ONGC’s U1B deep-water gas well located
in KG-DWN 98/2 block, which has an estimated
peak production of 1.2 mscmd. The rise in
domestic production coincided with a substantial
jump in international LNG prices, resulting in
import dependency of natural gas reducing from
55.3% in April-October, 2020 to 49.3% in the
corresponding period this year.
The Financial Express - 16.12.2021
https://www.financialexpress.com/market/comm
odities/domestic-natural-gas-output-rises-
23/2381212/
Cairn inks pact to sell 1 lakh SCMD gas
to Assam Gas Company
Cairn Oil and Gas on Thursday announced that
it will sell one lakh standard cubic meters per
day (SCMD) of natural gas to state-run Assam
Gas Company Ltd (AGCL) for distributing it in
the state. The two companies have signed an
agreement in Guwahati for the gas sale in
presence of Assam Industries and Commerce
Minister Chandra Mohan Patowary. "Under this
agreement, AGCL will ensure purchase of 1 lakh
SCMD rich gas from Cairn's Hazarigaon Field,"
the two firms said in a joint statement. AGCL
Managing Director Gokul Chandra Swargiyari
said that the association with the private oil
company will improve energy access in Assam
and boost the state's many industries,
particularly the big tea estates. "At AGCL, we
have robust plans to connect all towns within
our operating area by supplying piped natural
gas to 2 lakh domestic consumers in the next
few years," he added. The Assam government-
controlled company is determined to connect
more domestic and industrial consumers to its
existing network and reduce dependence on
traditional fuels to contain carbon footprint and
ensure energy access in the state, Swargiyari
said.
news/oil-and-gas/cairn-inks-pact-to-sell-1-
lakh-scmd-gas-to-assam-gas-
company/88330603
No proposal to transfer ONGC's assets to
OIL: Rameswar Teli, MoS -Petroleum
and Natural Gas
There is no proposal at present to transfer India's
biggest oil and gas producer ONGC's assets to
smaller state-owned firm Oil India Ltd (OIL),
Parliament was informed on Monday. Assam Chief
Minister Himanta Biswa Sarma had earlier this
year written to Prime Minister Narendra Modi
requesting him to consider transferring all assets
of Oil and Natural Gas Corporation (ONGC) in the
Biofuel push: India set to be third-
largest ethanol market by ’26: Report
India is set to become the third-largest market
for ethanol in the world after the US and Brazil
by 2026, a recent report by the International
Energy Agency (IEA) said, adding that the
country has tripled ethanol demand to an
estimated 3 billion litres between 2017 and
2021. Buoyed by India’s growing appetite, Asia
is set to overtake Europe in terms of biofuels
production by 2026, the agency said. While

northeaster region to Oil India Ltd. "At present,
there is no proposal to transfer ONGC's assets to
OIL," Minister of State for Petroleum and Natural
Gas Rameswar Teli said in a written reply to a
question in the Rajya Sabha. Sarma's letter to the
prime minister followed the oil ministry's directive
to ONGC to consider selling stakes in producing oil
fields and hive off drilling and other services into
a separate firm to raise production. He had in his
June 5 letter stated that both ONGC and OIL are
national oil companies and hold acreage given to
them on a nomination basis by the government
and so, there should be "no issues in transfer of
assets" from one to other.
ws/oil-and-gas/no-proposal-to-transfer-ongcs-
assets-to-oil-rameswar-teli-mos-petroleum-and-
natural-gas/88289684
annual global demand for biofuels is set to grow
by 28% from 2021 levels by 2026, reaching 186
billion litres, Asia is seen to account for almost
30% of new production over the forecast period.
Government policies are seen to be the principal
driver of the demand expansion. Other factors
such as overall transport fuel demand, costs
and specific policy design will also play a major
role. Prime Minister Narendra Modi had said in
June that the government has resolved to meet
the target of 20% ethanol blending in petrol by
2025. Earlier the target was set for 2030.
Analysts at CRISIL have recently pointed out
that around 16-18 million tonnes of petrol sales
is seen to be displaced due to ethanol blending.
The Financial Express - 19.12.2021
https://www.financialexpress.com/industry/bio
fuel-push-india-set-to-be-third-largest-
ethanol-market-by-26-report/2383211/
Rs 80,000 cr investment as 430 bids pour
in for city gas licensing round
Around Rs 80,000 crore investment is envisaged
in setting up city gas infrastructure in 61
geographical areas (GAs), including Jammu,
Nagpur, Pathankot and Madurai, that were put on
bid in the latest licensing round, oil regulator
PNGRB said. Bids for the 65 GAs offered in the
11th city gas licensing round came in on December
15, Petroleum and Natural Gas Regulatory Board
(PNGRB) said in a statement. The 65 GAs spread
over 215 districts in 19 states and one Union
territory covering 26 per cent of India's population
and 33 per cent of its area. "This round attracted
an overwhelming response from investors with
more than 430 bids against 61 GAs with no single
bid in these GAs. The technical bids would be
opened between December 17 to 22," PNGRB said.
"This initiative would help in creating a robust CGD
infrastructure and play a significant role in
transforming to a gas-based economy. This would
bring investment of more than Rs 80,000 crore
and generate employment."
ws/oil-and-gas/rs-80000-cr-investment-as-430-
bids-pour-in-for-city-gas-licensing-
round/88356766
Gati to set up distribution units for
parent Allcargo’s global arm
Gati plans to set up distribution networks for
Allcargo’s global subsidiary ECU Worldwide, in
India and overseas as part of creating synergies
with its parent’s express cargo system.
“Allcargo runs a lot of container freight stations
in the country. We also have ECU which is the
world’s largest less than container load
company in the world. When ECU brings in loads
from all over the world into India, a customs
house agent of the receiver comes, clears these
goods and takes them to the receiver. This is an
opportunity for me to give ECU a rate into
India,” said Gati CEO Pirojshaw Sarkari, in an
interview to ET. Sarkari said Gati will also take
up positions in industrial parks that Allcargo is
setting up across the country. Next it may look
at setting up distribution networks for ECU in its
overseas markets. “Then sky is the limit. What
stops Gati from going into the country into
which ECU ferries cargo and saying ‘Let’s set up
your distribution here’” he said. “Let’s say ECU
Thailand. They are already doing their LCL work
there. You go there you either acquire a
distribution company or you stitch the
distribution yourself,” he added.
https://epaper.timesgroup.com/olive/odn/thee
conomictimes/shared/ShowArticle.aspx?doc=E
TKM%2F2021%2F12%2F20&entity=Ar01007&
sk=C949715B&mode=text
Business travel weighed down by
Omicron, safety concerns
For companies, business travel is up in the air. But
not literally. In reality, virtual meetings are still
taking precedence over long distance face-to-face
Former Oil Secretary Tarun Kapoor, oil
executives in race for PNGRB top job
Former oil secretary Tarun Kapoor, present and
former chairmen of ONGC and a former director
of IOC, are among over a dozen people who

ones. With travel restrictions due to the pandemic
and its subsequent waves, and now with the
arrival of the new variant Omicron, flying out of
the city or country for work has not seen the same
revival as other travel segments. According to a
survey of global travel industry experts conducted
by Collinson and CAPA – Centre for Aviation,
business and long-haul travel will remain the
slowest recovering travel segments in 2022. In
predicting travel in 2022, just over a third (35%)
of respondents expect a 41-60% recovery to 2019
pre-pandemic levels of short-haul business travel.
This is reflected in the way companies are viewing
travelling for work, with many adopting a travel-
only-when-absolutely-needed outlook. Amit
Chincholikar, global chief HR officer, Tata
Consumer Products, says employee safety is the
first priority. “We have been careful about
business travel and encouraged employees to
make their travel related decisions based on
urgency, protocol and the location where they
need to travel,” he says.
%2F2021%2F12%2F19&entity=Ar00514&sk=6A
8FE86D&mode=text
have applied for the top job at the oil and gas
regulator, PNGRB, sources said. Kapoor, who
superannuated as Secretary to the Ministry of
Petroleum and Natural Gas last month, is the
most prominent name in the list of 13 persons
who have applied to become the Chairman of
Petroleum and Natural Gas Regulatory Board
(PNGRB). Oil and Natural Gas Corporation
(ONGC) Chairman and Managing Director
Subhash Kumar and his predecessor Shashi
Shanker are also in the race and so is G K
Satish, who superannuated as Director for
Planning and Business Development from
Indian Oil Corporation (IOC) a couple of months
back. Numaligarh Refinery Ltd (NRL) Managing
Director Saumendra Kumar Barua and
Indraprastha Gas Ltd (IGL) Managing Director
Asit Kumar Jana too have applied, two sources
with direct knowledge of the development said.
news/oil-and-gas/former-oil-secretary-tarun-
kapoor-oil-executives-in-race-for-pngrb-top-
job/88330575

Weekly media update 20 12_2021

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