ONGC accepts resignation of Amal Krishna, Madhukar Mohan as EDs

Oil & Natural Gas Corporation has accepted the resignations of two senior executives, Amal Krishna and Madhukar Mohan, both serving as Executive Directors. The changes in senior management are effective from August 1, 2026, citing superannuation as the reason for their departure.

The company disclosed this change under Regulation 30 read with Schedule III of the SEBI (LODR) Regulations, 2015. The notification was issued by Shashi Bhushan Singh, Company Secretary & Compliance Officer, on August 1, 2026.

Key Personnel Changes

The following table outlines the specific changes in the senior management structure:

Name	Designation	Type of Change
Amal Krishna	Executive Director	Superannuation
Madhukar Mohan	Executive Director	Superannuation

Regulatory Disclosure

The disclosure was submitted to both the National Stock Exchange of India Ltd and BSE Limited. The filing confirms that these individuals hold positions one level below the Board. The resignation is a standard procedural outcome of reaching the mandatory retirement age, ensuring compliance with corporate governance norms regarding tenure limits for executive roles.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
0.0%	+1.44%	+1.75%	-5.84%	+3.05%	+105.26%

The Board of Directors of Oil & Natural Gas Corporation approved a Parent Company Guarantee (PCG) of $500 million on July 28, 2026, to enable its subsidiary Mangalore Refinery and Petrochemicals Limited (MRPL) to import crude oil from Saudi Arabian Oil Company (Saudi Aramco). This financial instrument secures the supply chain for MRPL’s refining operations over a two-year period, ensuring continuity in raw material procurement from one of the world’s largest oil exporters.

Key Details of the Guarantee

The guarantee is structured to cover the period from September 1, 2026, to August 31, 2028. The following table outlines the specific parameters of the board-approved proposal:

Parameter:	Details
Guarantee Amount:	$500 million
Beneficiary Entity:	Saudi Arabian Oil Company (Saudi Aramco)
Subsidiary Covered:	Mangalore Refinery and Petrochemicals Limited (MRPL)
Validity Period:	September 1, 2026 to August 31, 2028
Purpose:	Facilitation of crude oil imports

Significance of the Development

The approval underscores Oil & Natural Gas Corporation’s strategic support for MRPL’s operational requirements. By providing a parent company guarantee, ONGC mitigates counterparty risk for Saudi Aramco, thereby strengthening the commercial relationship and ensuring stable crude oil flows to MRPL’s refinery in Mangalore. This arrangement is critical for maintaining consistent production levels at the refinery, which relies heavily on imported crude feedstock.

The Board meeting commenced at 13:45 hrs and concluded at 15:35 hrs on July 28, 2026. The decision was communicated to the National Stock Exchange of India Ltd and BSE Limited as part of the standard disclosure process for significant corporate actions.