New Delhi: DS Nanaware is set to be the next Director (Pipelines) of India Oil Corporation Limited (IOCL), a Maharatna PSU under the Ministry of Petroleum & Natural Gas (MoPNG). He has been recommended for the post by the Public Enterprises Selection Board (PESB) panel on Wednesday. He is currently serving as Executive Director in the same organisation.
DS Nanaware has been recommended for the post from a list of 11 candidates, who were interviewed by the selection panel. There were a total of six candidates including Nanaware, who were from Indian Oil. Other candidates were from IHB Limited, Madras Fertilizers Limited, Bharat Sanchar Nigam Limited (BSNL), Indian Railways Traffic Service and Maharashtra Metro Rail Corporation Ltd.
As Director (Pipelines) of Indian Oil, Nanaware will be a member of the Board of Directors and reports to the Chairman. He will be in charge of the Pipelines Division to achieve transportation of crude oil and petroleum products in line with the Corporation’s plans and objectives. He also will be responsible for revamping existing pipelines besides taking up new pipelines projects.
Indian Oil is a Maharatna PSU under the Ministry of Petroleum and Natural Gas (MoPNG). Indian Oil is the largest commercial oil company in the country. It is ranked 1st in Fortune India 500 list for the year 2016 and 117th in the Fortune Global 500 list of the world's largest companies in the year 2019. It is India's largest downstream oil company, with a workforce of more than 33,000 employees, a turnover of Rs 506,428 crore and a net profit of Rs 21,346 crore in 2017–18.
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