V K Sibal opts for VRS from Oil India

V K Sibal has sought voluntary retirement from his parent company Oil India Ltd. Sibal was appointed Director General in the upstream regulatory body in 2004 for a five-year period and was on deputation from OIL. His five-year term as Director General of Hydrocarbons comes to end on October 31 and is eligible for extension till his superannuation age of 60 years in 2011.

Incidentally, caught in the bitter Ambani gas dispute and facing CBI probe over allegations of favouring Mukesh Ambani-led RIL, oil regulator V K Sibal may not continue as Director General of Hydrocarbon from next week. The Petroleum Ministry has already worked out as to who would succeed him, sources in the know said but did not disclose the name.