Oil and Natural Gas Corporation (ONGC)’s Director (Finance) Subhash Kumar assumed additional charge as Chairman and Managing Director (CMD) on Thursday. An order on the matter was issued by the Ministry of Petroleum and Natural Gas on March 30, 2021.
Kumar took charge upon the superannuation of incumbent CMD, Shashi Shanker on March 31, 2021.
He has 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. After growing up along the hierarchy in ONGC, he had a long stint at ONGC Videsh, the overseas arm of ONGC, a company statement said.
“During his tenure with ONGC Videsh, Mr Kumar was associated with key acquisitions and expansion of the 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,” the ONGC statement added.
He was also 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.
Kumar had joined back 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 organization. He also served a brief stint with Petronet LNG Limited as its Director (Finance) in 2017
He is a Fellow Member of Institute of Cost Accountants of India and Associate Member of ICSI. He is an alumni of Panjab University, Chandigarh, from where he obtained his Bachelor’s and Master’s degrees in Commerce with Gold Medal.