ONGC Board Appoints Anupam Agarwal as CFO & Satyan Kumar as KMP

New Delhi: In a major top-tier management restructuring, state-run energy giant Oil and Natural Gas Corporation Limited (ONGC) has announced the appointment of Shri Anupam Agarwal as its new Chief Financial Officer (CFO), effective immediately.

The decision was formalized during a Board of Directors meeting held on June 25, 2026. Agarwal, who currently serves as the Director (Finance) at ONGC, will take over the crucial financial portfolio from the outgoing CFO, Shri Yogish Nayak S.

In tandem with this appointment, the ONGC Board also approved designating Shri Satyan Kumar, Director (Strategy & Corporate Affairs), as a Key Managerial Personnel (KMP) of the company.

A Veteran Energy Finance Leader Takes the Helm

Anupam Agarwal is an industry veteran with over 35 years of extensive experience in financial and commercial management, specifically within the oil and gas sector. His academic and professional credentials are multi-faceted; he is a Fellow Member of the Institute of Cost Accountants of India, an Associate Member of the Institute of Company Secretaries of India, and a Chartered Financial Analyst (CFA) from ICFAI, Hyderabad. An alumnus of Lucknow University, he holds both a Bachelor’s degree in Commerce and an MBA in Finance.

Agarwal's journey with India's largest crude oil and natural gas producer began over three decades ago when he joined ONGC in 1990 as a Finance & Accounts Officer. Over the years, his operational and corporate assignments have spanned major energy hubs across India, including Baroda, Dehradun, Jorhat, Mumbai, and Delhi.

Notable Career Milestone and Achievements:

• International Portfolio Management: Prior to joining the main ONGC Board, Agarwal served as the Director (Finance) of ONGC Videsh Limited (the overseas arm of ONGC) since June 2022. He also chaired ONGC Overseas Investment Limited (OOIL) and served on the board of ONGC Videsh B.V., Amsterdam.

• Capital Mobilization: At ONGC Videsh, he successfully steered competitive international financing arrangements, mobilizing funds exceeding US$ 3 billion.

• GIFT City Treasury Centre: He played a pivotal role in establishing OOIL at GIFT City, positioning it as the corporate group's Global Treasury Centre to streamline international operations.

• Corporate Governance: As Executive Director – Chief Corporate Finance at ONGC, his responsibilities included directly overseeing corporate budgets, direct and indirect taxation, investor relations, and strategic project appraisals, including bidding for NELP and DSF blocks.

His contributions to the financial sector have earned him prominent accolades, including the ASSOCHAM Best CFO Gold Award 2025 for Excellence in Finance Transformation & Innovation, and the CMA Outstanding Performer Award in 2024.

Strategic Forward Outlook

With India's energy transition goals and volatile global oil markets dominating the macroeconomic landscape, Agarwal's elevation to CFO comes at a critical juncture. As a member of the Board, he will be responsible for leading the state-owned corporation's financial strategy, ensuring capital discipline, and bolstering treasury management to facilitate long-term value creation.

Concurrently, the inclusion of Satyan Kumar (Director, Strategy & Corporate Affairs) into the core Key Managerial Personnel framework signals ONGC's intent to closely align its financial governance with its evolving structural strategy as an integrated energy company.

According to official filings submitted by Company Secretary Shashi Bhushan Singh to the National Stock Exchange (NSE) and BSE Limited, both high-profile appointments have been approved with immediate effect. The company confirmed that there are no inter-se relationships between the newly appointed executives and other members of the board.  

Source: NSE & BSE