New Delhi: G. C. Chaturvedi, special director general in the Organising Committee of the Commonwealth Games 2010 took charge as petroleum secretary on Wednesday, completing a change of guard in the ministry that was initiated in the January reshuffle of the Congress party led United Progressive Alliance government.
Chaturvedi, a 1977 Uttar Pradesh cadre Indian Administrative Service (IAS) officer comes to the petroleum and natural gas ministry after the previous incumbent S Sundareshan was shifted out to the ministry of heavy industries as secretary.
Sundareshan’s exit followed a change of guard in the petroleum ministry with S Jaipal Reddy replacing then minister Murli Deora. Charturvedi’s appointment comes at a time when Vedanta Resources Plc’s proposed acquisition of a majority stake in Cairn India Ltd for $9.6 billion is stuck.
A group of ministers (GoM) has been asked by Cabinet Committee on Economic Affairs to give its assent for government approval. State-owned Oil and Natural Gas Corp. Ltd(ONGC) has made the resolution of a royalty payment dispute a precondition for the deal’s approval.
ONGC is Cairn India’s partner in a joint venture that runs the latter’s main oil asset in the country—block RJ-ON-90/1 in Rajasthan. ONGC wants to be compensated for royalty payments to the government that it has been making on the Rajasthan oil.