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India’s largest oil and gas exploration and production company Oil Natural Gas Corporation (ONGC) likely to get a full time Chief Managing Director soon.
The ONGC likely to get full time CMD very soon.
Nearly after 17 months, the process of selection for a right candidate for the ONGC has moved with shortlist of six candidates, sources informed.
The Maharatna oil and gas major has been without a full-time CMD since April 1, 2021, when Shashi Shanker superannuated.
The interview is scheduled to be held on August 27.
The government’s shortlist of candidates includes three private sector executives — Ashish Bhandari, CEO of Thermax, Nitin Birla, who specialises in Project and Asset Management (Upstream) at Kuwait Gulf Oil Company, and Baroruchi Mishra, who is Project Director, Growth and Transition Projects, at Shell India.
From within ONGC, the list of names includes ONGC’s current Director (HR), who holds the additional charge of the CMD post, Alka Mittal, Director (Offshore) Pankaj Kumar and Director (Exploration) RK Srivastava, PSU watch reported.
According to sources, other names in the fray includes Indian Oil Corporation Chairman SM Vaidya, Petronet LNG MD & CEO AK Singh and Engineers India Ltd (EIL) CMD Vartika Shukla.
The list has been finalised by a search committee which was formed by the government last year.
The committee is headed by the Public Enterprises Selection Board (PESB) Chairperson Mallika Srinivasan and consists of two Members — Petroleum Secretary Pankaj Jain and former Indian Oil Chairman B Ashok as outside expert of eminence.
The Oil and Natural Gas Corporation (ONGC) is an Indian oil and gas explorer and producer, headquartered in New Delhi. It was found on August 14, 1956 by the Indian Government. It is a public sector undertaking whose operations are overseen by the Ministry of Petroleum and Natural Gas. It is the largest government-owned-oil and gas exploration and production corporation in the country, and produces around 70% of India's crude oil (equivalent to around 57% of the country's total demand) and around 84% of its natural gas.
In a survey by the Government of India for fiscal year 2019–20, it was ranked as the largest profit making Public Sector Undertaking (PSU) in India. It is ranked 25th among the Top 250 Global Energy Companies by Platts.
