The Appointments Committee of the Cabinet has approved Sunil Kumar, an executive director at ONGC, as the company’s next chairman. Kumar, 58, takes over on or after 7 December for a combined three-year term. He succeeds Arun Singh, who has led India’s largest oil and gas producer since December 2022.
Who is the new ONGC chairman
A petroleum ministry panel picked Kumar after two rounds of interviews. As a result, he becomes the first ONGC chairman promoted straight from executive director rank, Business Standard reports. Previously, he ran the Mehsana asset in Gujarat and worked on ONGC’s Krishna-Godavari offshore project. He also studied at the Indian School of Mines, Dhanbad.
What awaits him
Kumar takes charge of a company that produces 75% of India’s domestic oil and gas. Moreover, conflicts and sanctions are keeping oil and gas prices high. That raises pressure on ONGC to lift output from ageing fields.
Notably, Singh brought in BP as technical service provider for the Mumbai High field. Therefore, results there will be an early test for Kumar. In addition, plans for international oil trading and wider gas marketing remain unfinished.
High crude prices are also reshaping how Indian refiners buy oil. Read how Indian Oil is cutting Middle East term crude.
