SK Srivastava who is presently head of upstream oil regulatory authority, DGH, has been appointed to be the next Chairman and Managing Director, Oil India Limited.

Srivastava’s name will now be forwarded to the Cabinet Committee on Appointments (ACC) for approval. ACC, that comprises Prime Minister, Home Minister and the administrative minister, would give its consent only after receiving no objections from various agencies, including anti-graft body, the Central Vigilance Commission (CVC).

Srivastava, 56, was Director (Operations) at OIL before he became DG, DGH in February 2010. He beat B N Talukdar, Director (Exploration & Development), OIL, for the top job.

Oil Ministry had appointed Srivastava as the temporary head of DGH to replace controversial V K Sibal, in October 2009. He was formally appointed DG, DGH in February 2010.

He will serve his term till June 2015 as OIL Chairman and Managing Director.