The search for the next Chairman and Managing Director (CMD) of state-run energy behemoth Oil and Natural Gas Corporation (ONGC) has reached a critical phase. A high-level search-cum-selection panel is conducting a second round of interviews this week with seven shortlisted candidates vying for the top leadership role.
Key Contenders Emerge
Among the prominent figures shortlisted is Ranjit Rath, the current Chairman and Managing Director of Oil India Ltd (OIL), who is widely considered a frontrunner. Rath, 54, is making his second attempt at the ONGC top post, having been shortlisted previously when the government opted to extend the tenure of the current CMD, Arun Kumar Singh.
Other notable candidates include senior executives from ONGC and its subsidiaries, as well as other public sector undertakings:
- Rajarshi Gupta (59), Managing Director, ONGC Videsh Ltd (OVL)
- Vikram Saxena, Director (Technology and Field Services), ONGC
- Satyam Kumar, Director (Strategy and Corporate Affairs), ONGC
- Dulal Halder, Director (Operations), OVL
- Devendra Kumar, Director (Finance), Mangalore Refinery and Petrochemicals Ltd (MRPL)
- An executive from Indian Oil Corporation Ltd (IOCL)
Revised Eligibility Criteria
The ongoing ONGC CMD selection process has garnered attention due to significant modifications in its eligibility criteria. The government introduced a one-off relaxation in the upper age limit, extending it to 59 years. This departs from the standard 58-year limit for external candidates, a move seen previously in selections for state-run power producer NTPC and ONGC itself in 2022.
Additionally, educational qualification requirements have been updated. Applicants must now be first-class graduates holding degrees in engineering, chartered accountancy, or cost accountancy. Alternatively, candidates may hold postgraduate or graduate degrees with a full-time MBA or PGDIM from a recognized premier institution.
Past Leadership Challenges
This rigorous selection process follows a period of leadership instability at ONGC. The energy major operated without a full-time chief between April 2021 and December 2022, during which time it was managed by three interim chairmen before Arun Kumar Singh's appointment. Singh's own selection in 2022 also benefited from relaxed eligibility norms, as he was chosen just under four months before turning 60.
The final decision on the next ONGC CMD is expected to bring stability to the leadership of one of India's most critical energy companies.