The centre has jumped to the rescue of state-owned oil companies Oil India andONGC, who are liable to pay royalty dues to states of Assam and Gujarat.
In an interview with CNBC-TV18, Utpal Bora, Chairman and MD of Oil India said that there has been an increase in gas production in the first quarter and expects second quarter revenue to be better than Q1.
OIL Director (Finance) Rupshikha Saikia Borah, who was previously selected for the top job by PESB but rejected by the Prime Minister's Office (PMO), was not considered even though she had applied again.
Rajkumar is, at present, working as Managing Director of Bharat Petro Resources Ltd, a unit of BPCL focused on exploration and production. Bora is Executive Director in Oil and Natural Gas Corporation (ONGC) Limited.