Gautham Roy appointed as the new Managing Director of CPCL
Gautham Roy on 14 October 2014 was appointed as the new Managing Director of CPCL.
Gautham Roy on 14 October 2014 was appointed as the new Managing Director (MD) of Chennai Petroleum Corporation Ltd (CPCL).
His appointment was made by Union Ministry of Petroleum and Natural Gas, Government of India. He served as an Executive Director in Indian Oil Corporation Ltd before assuming the new post.
He was appointed in place of A S Basu who retired on 31 May 2014. Since June 2014, the charge of Managing Director of CPCL was with S Venkataramana, Director-Operations of CPCL.
Chennai Petroleum Corporation Ltd (CPCL)
• CPCL was formerly known as Madras Refineries Ltd. It is a subsidiary of Indian Oil Corporation.
• It has two refineries with a combined refining capacity of 11.5 million tonnes per annum.
• It was formed as a joint venture in 1965 between the Government of India, AMOCO and National Iranian Oil Company (NIOC) having a share holding in the ratio 74:13:13 respectively.
• In 1985, AMOCO disinvested in favor of the Government of India leading to revision in shareholding percentage to 84.62 per cent for the government and 15.38 per cent of NIOC.
• The company went public in 1994.
• IOC acquired government stake in CPCL in 2000-01 and presently IOC holds 51.89 percent shares while NICO controls 15.40 percent of shares.