S K Srivastasva named new upstream oil sector regulator

Over seven months after controversial oil regulator, V K Sibal, demitted office, the government has appointed S K Srivastava as the new director general of hydrocarbons (DGH).

Srivastava’s appointment was cleared by the Cabinet Committee on Appointments (ACC) for a period of five years or till his superannuation, whichever is earlier.

“The orders for Srivastava were issued on June 9,” a source close to the development said.

Srivastava was director (operations) in state explorer Oil India Ltd when he was given the additional charge of DGH in late October last year, after Sibal was denied an extension amid charges of favouring private parties.

Srivastava will have a five year tenure till June 2015 when he superannuates.

Sibal was denied an extension as head of India’s upstream nodal agency till his superannuation age of 60 years in January 2012 after the Central Vigilance Commission found a “deficit of trust” in him. Sibal faces allegations of nexus with certain private operators and CBI is probing the charges.

After exit from DGH on October 31, Sibal rejoined OIL, his parent company, as group general manager. In 2004, he had joined the Directorate General of Hydrocarbons on lien from where he was reverted to his parent company.