By Our Staff Reporter
New Delhi, 1 Apr: Director (Finance) Subhash Kumar assumed additional charge as Chairman and Managing Director (CMD) of Oil and Natural Gas Corporation Limited (ONGC), here, today. An order to this effect was issued on 30 March by the Union Ministry of Petroleum & Natural Gas.
Kumar took over following the superannuation of Shashi Shanker on 31 March.
Kumar is an industry veteran with over 36 years of experience in diverse activities across the Exploration & Production (E&P) value chain. He joined ONGC in 1985 as a Finance and Accounts Officer and served in different capacities. He also had a long stint at ONGC Videsh, the overseas arm of ONGC.
During his tenure with ONGC Videsh, Kumar was associated with key acquisitions and expansion of company’s footprint. He played a key role in evaluation and acquisition of many overseas assets. He had worked as Head, Business Development, Finance and Budget, and also as Head, Treasury Planning and Portfolio Management Group, at ONGC Videsh from April 2010 to March 2015.
He served as the Chief Financial Officer of Mansarovar Energy Colombia Limited, a 50:50 joint venture of ONGC Videsh and Sinopec of China, from September 2006 to March 2010. He rejoined ONGC as the Chief Commercial and Head, Treasury, in July 2016, where he played a key role in evaluation, negotiation, and concluding outstanding issues pertaining to the organisation.
During 2017, Kumar served a brief stint with Petronet LNG Limited as its Director (Finance).
He is also a Fellow Member of Institute of Cost Accountants of India and Associate Member of ICSI. He is an alumnus of Punjab University, Chandigarh, from where he obtained his Bachelor’s and Master’s degrees in Commerce with Gold Medal. As an avid sportsperson and fitness enthusiast, he is also a popular personality among ONGC employees, having served as an office bearer of ONGC’s Officers’ Association as well.