Mumbai: The immediate past chairman of Indian Oil Corporation (IOC), M A Pathan, has been appointed as the head of the newly-formed Petroleum Federation of India, the association of all Indian oil companies, which will act as an intermediary body between the oil firms and the government following the dismantling of the Oil Coordination Committee.
PetroFed members met on 2 April 2002 to chalk out a roadmap for the association. IOC, HPCL, BPCL, private sector companies like Reliance and Essar Oil and multinationals are also members of the new body.
"I have been asked to head PetroFed and I have accepted it. But I need a break and will spend some time with my family before I take up the responsibility," Pathan said. He retired as IOC chairman on 31 March 2002. "Except the regulatory part, which will be handled by the petroleum ministry, all issues related to the oil sector will be dealt by PetroFed."
The federation will take up the responsibilities of the OCC and will also act as an intermediary body between the oil firms and the government. PetroFed will coordinate the supply of petroleum products to ensure its even distribution and will take care of the logistical requirements of the oil companies, which include railways, ports and pipelines.
PetroFed is also expected to get arbitration powers to settle disputes between various oil companies. Other responsibilities of the body include ensuring that the members do not resort to restrictive trade practices, including formation of cartels. The federation will also lobby for the interest of the industry with the petroleum ministry. The structure of PetroFed will closely resemble the American Petroleum Institution and the Australian Institute of Petroleum.