IOC-IBP merger process begins

Bareilly, July 18 (UNI) The merger process of the two leading public sector petroleum companies Indian Oil Corporation (IOC) and Indo-Burma Petroleum (IBP) has begun.

IOC had bought the shares of IBP few years ago and now under the first phase of its merger all the IBP workers will start working under the supervision of IOC from the next month, IOC General Manager Arun Kumar Girdhar told UNI here today.

Apprising about the infrastructural development of IOC, Mr Girdhar said under the new arrangement five divisional offices will be created in Uttar Pradesh and Uttarakhand. At present there are four divisional office located in Bareilly, Agra, Lucknow and Allahabad and the inclusion of these five will take the total tally of offices to nine.

Their are plans to open more offices at Gorakhpur, Varanasi, Kanpur, Dehradun and Noida. UP and Uttarakhand IOC branches would work under the Noida divisional office, he said.

With the expansion of work, posts of two new general managers would be created. One of these two managers would take care of the office at Lucknow, Allahabad, Varanasi, Gorakhpur and Kanpur and the other at Agra, Bareilly, Noida and Dehradun, Mr Girdhar said.

Talking about the merger phases, he said after the completion of merger the brand name of IBP will be completely overtaken by the IOC and all its refineries, petrol pumps and other units will be branded as IOC.

Meanwhile, the stipend and other funds of the IBP workers would be decided by the IBP headquarters.

UNI