The Governing Council of the Petroleum Federation of India at its 17th meeting on August 8, 2008 welcomed admission of the Australian oil and gas exploration and production company, M/s Santos International Operations Pty. Ltd. , M/s Punj Lloyd Limited and M/s Great Eastern Energy Corporation Limited as members of PetroFed.  With these admissions, the membership of PetroFed has gone up to 58.

The Governing Council approved the Annual Report and audited accounts of the Society for 2007-08 for submitting them at the 7th Annual General Body Meeting of the Society for adoption by the general body.  The Governing Council also approved the proposal for appointment of M/s Rakesh & Company as Statutory Auditors for 2008-09 for submission to the general body at the AGM.

The Governing Council accorded its approval to the proposed changes for PetroFed Awards 2008 as recommended by the Awards Committee.  The changes pertain to marginal amendments/alterations in parameters and weightages in light of experience gained during evaluation of PetroFed Awards 2007.

While appreciating the work being done by the PetroFed Secretariat, the Governing Council advised that for formation of a consortium for the Canadian Oil Sands opportunities all members who had earlier depicted interest be kept informed.

The Governing Council noted the plans put up for the forward period during the current fiscal.