Article: PSU oil firms unshackled; PetroMin reduces control.

PSU oil firms unshackled; PetroMin reduces control

New Delhi, Mar 1 (PTI) Undoing Mani Shankar Aiyar's move to exercise greater control on public sector oil firms, the Petroleum Ministry has restricted the number of government directors on Boards of public sector oil companies to just two.

Aiyar, as petroleum minister, had wanted to pack boards of oil firms particularly India's top oil producer Oil and Natural Gas Corp (ONGC) and its overseas subsidiary ONGC Videsh Ltd with more government directors to have a greater say in the operation of these companies.

Petroleum Secretary M S Srinivasan last month issued orders restricting number of ...

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