How much remuneration did the heads of Indian oil and gas PSUs receive in 2018-2019? - EntornoInteligente
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New Delhi: India’s oil and gas Public Sector Undertakings (PSUs), apart from posting robust profits last financial year, also gave healthy remuneration to their respective heads, the Chairmen and Managing Directors (CMDs). ETEnergyworld compiled publicly available data published in the annual reports of these large PSUs – GAIL (India), Bharat Petroleum (BPCL), Oil and Natural Gas Corporation ( ONGC ), Hindustan Petroleum (HPCL), Indian Oil Corporation (IOC) and Oil India . The analysis reveals interesting insights into the trends of the total remuneration received by their chiefs. B.C. Tripathi emerged as the highest paid chairman, receiving Rs 133.86 lakh in financial year 2018-2019, followed by D. Rajkumar of BPCL who received Rs 105.37 lakh last financial year. While, mostly all the chairmen received a hike last financial year, total remuneration received by Sanjiv Singh of IOC and Shashi Shanker of ONGC declined 3.63 per cent and 5.42 per cent respectively, as compared to the total remuneration received in financial year 2017-2018. Highest paid CEO’s of India’s oil and gas PSUs Oil and Gas PSU Chairman Total Remuneration (Rs Lakh) GAIL B.C. Tripathi 133.86 BPCL D. Rajkumar 105.37 ONGC Shashi Shanker 101.2 HPCL MK Surana 100.03 Indian Oil Sanjiv Singh 87.98 Oil India Utpal Bora 77.72 GAIL (India) The state-run gas utility recorded a 36 per cent jump in consolidated net profit at Rs 6,553 crore for the full financial year ended March 2019. BC Tripathi, who has been the CMD of the company since 1 August 2009, received a remuneration of Rs 133.86 lakh for the full fiscal year 2018-19. This was a 46 per cent hike over Rs 91.85 lakh he received in the previous financial year. In 2018-2019, Tripathi’s remuneration included Rs 67.02 lakh as Salary & Allowances, Rs 20.11 lakh as perquisites and Rs 46.73 lakh under the other segment. BPCL The country’s second-largest fuel retailer by market share posted a 13 per cent decline in its net profit at Rs 8,528 crore for full financial year ended March 2019 and featured in the latest fortune 500 list, where the company moved up to 275th position from 314th position earlier. D Rajkumar, who was the Managing Director of Bharat Petro Resources until September 2016, took charge as the CMD of BPCL from 1 October 2016. His total remuneration for 2018-19 stood at Rs 105.37 lakh, a 56.47 per cent increase over total remuneration of Rs 67.34 lakh received in financial year 2017-2018. In 2018-2019, Rajumar’s remuneration included Rs 29.31 lakh under the head of Salary & Allowances, Rs 7.03 lakh under contribution to provident and other funds, Rs 29. 11 lakh under other perquisites and benefits and lastly Rs 39.90 lakh under performance related pay. ONGC The country’s largest producer of oil and gas posted a 30 per cent increase in consolidated net profit at Rs 33,887 crore for the full financial year ended March 2019 and featured in the latest fortune 500 list, where the company moved up to 160th position from 197th position earlier Shashi Shanker took charge as the CMD on 1 October 2017 and received a total remuneration of Rs 101.2 lakh for 2018-19, a decline of 5.42 per cent as compared to 107 lakh received as total remuneration in the previous fiscal year of 2018-2018. In 2018-2019, Shanker’s remuneration included Rs 37.2 lakh under salary, Rs 16.6 lakh under perquisites, Rs 32.2 lakh under performance incentive, Rs 8.1 lakh under contribution to Provident Fund and Rs 7.1 lakh under provision for leave, gratuity and post-retirement benefits. HPCL The fuel retailer — which is now a subsidiary of ONGC — posted a 7.30 per cent decrease in net profit at Rs 6,691 crore for the financial year ended March 2019. The current CMD MK Surana had assumed charge as the head of the company on 1 April 2016. Before that, he had held the position of Chief Executive Officer – Prize Petroleum Company Ltd, a wholly-owned subsidiary and upstream arm of HPCL, since September 2012. As per the company’s annual report, total remuneration received by Surana increased 27 per cent to 100.03 lakh in financial year 2018-2019, as compared to Rs 78.90 lakh received in the previous financial year. In 2018-2019, Surana’s remuneration included Rs 76.31 lakh under salary, Rs 11.88 lakh under perquisites and Rs 11.84 lakh under others. India Oil Corp IOC is the country’s largest fuel retailer and the second highest ranked Indian firm on the fortune 500 list. It reported a 24 per cent decline in net profit at Rs 17,274 crore last financial year (2018-19). The current CMD Sanjiv Singh took charge on 1 June 2017. Before that, he had been serving as Director-Refineries at the firm since July 2014. His total remuneration in 2018-19 declined to Rs 87.98 lakh — a 3.63 per cent decline over Rs 91.3 lakh received in the previous financial year. In 2018-2019 Singh’s remuneration included Rs 36.66 lakh under salary and allowances, Rs 39.31 lakh under performance linked incentive and Rs 12 lakh under other benefits and perquisites OIL India The country’s second-largest state-run petroleum explorer had posted a 18.39 per cent increase in consolidated net profit at Rs 3,238 crore for 2018-19. Utpal Bora, took charge as Oil India’s CMD beginning 18th July 2016, prior to which he was an Executive Director-Asset manager at ONGC’s Mehasna project. Bora received a total remuneration of 77.72 lakh for the full financial year ended March 2019, a 35 per cent hike over 57.64 lakh received as total remuneration in the previous financial year. In 2018-2019, Bora’s remuneration included Rs 58.33 lakh in the form of Salary & Allowances, Rs 1.02 lakh under perquisites and Rs 9.11 lakh under others.
LINK ORIGINAL: Energy.economictimes.indiatimes

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