The 11 th Governing Council meeting of Petroleum Federation of India at its meeting on July 7, 2006 welcomed Sh. S. Chandrasekaran, Director (T), CPCL as a member of the Governing Council. It also placed on record its appreciation of the guidance and cooperation of Sh. R. Sankaran, who superannuated as Director (T), CPCL on 30 th April 2006 , during his tenure as a member of the Governing Council.

The Governing Council welcomed the following six corporates as members of the PetroFed – HLS Asia Ltd., Total SA, Jubilant Oil & Gas Pvt. Ltd., Newsco Newtech Pvt. Ltd., Prize Petroleum Co. Ltd. & Transocean Limited. The Governing Council also approved admission of the following five corporates as Ordinary Members - Sud-Chemie Pvt. Ltd., Niko Resources, Honeywell Automation India Limited, British Gas India Pvt. Ltd., and Industrial Development Services Pvt. Ltd.

The term of the existing Governing Council was extended for a period of two years beginning October 16, 2006 . The proposals to re-appoint Sh. S. Behuria, Chairman IndianOil, as Chairman, for the 2 nd term and Sh. P. Raghavendran, President (Refinery Business) RIL, as Vice Chairman were unanimously carried. Their terms would be co-terminus with the term of the Governing Council ending on October 15, 2008 .

The Governing Council approved the Annual Report 2005-06 and the Audited accounts of the Society for submitting them at the Annual General Body Meeting for adoption by the General Body. The Governing Council also approved the proposals of appointment of M/s. Nath & Mahesh Associates as Statutory Auditors for 2006-07 for submission to the General Body at the AGM.

It was desired by the Governing Council that PetroFed application to the DDA for institutional land at concessional rate should be actively pursued.

The activities undertaken by PetroFed Secretariat were appreciated by the Governing Council and the forward plan was also approved.