Oil & Natural Gas Corporation has disclosed to the stock exchanges that the Ministry of Petroleum and Natural Gas, Government of India, has entrusted the additional charge of Director (Finance) to Shri Manish Patil, who currently serves as Director (Human Resource). The appointment is effective from 01.05.2026.

Appointment Details

The additional charge assignment has been communicated through the Ministry's letter no. CA-31011/3/2026-CA-PNG (55497) dated 30.04.2026. Shri Manish Patil holds Director Identification Number (DIN) 10139350 and will assume the additional responsibilities alongside his existing role as Director (Human Resource).

Duration and Terms

The appointment is for a specified period of three months commencing from 01.05.2026. The additional charge will continue until the appointment of a regular incumbent to the post of Director (Finance) or until further orders, whichever occurs earlier.

Regulatory Compliance

The disclosure has been made in compliance with Regulation 30 read with Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The communication was addressed to both the National Stock Exchange of India Ltd. and BSE Limited on 30.04.2026.

The disclosure was digitally signed by Shashi Bhushan Singh, Company Secretary & Compliance Officer of Oil and Natural Gas Corporation Limited.

Oil & Natural Gas Corporation Limited announced key strategic decisions during its board meeting held on April 25, 2026, including the appointment of a new Chief Financial Officer and approval of significant investments in petrochemicals and gas infrastructure projects.

New CFO Appointment

The board approved the appointment of Shri Yogish Nayak S. as Chief Financial Officer and Key Managerial Personnel of the company, effective May 1, 2026. The appointment will be on existing terms and conditions applicable to him as an employee of the company.

Shri Yogish Nayak S. brings over 30 years of professional experience in corporate finance within the oil industry. A Chartered Accountant and commerce graduate from St. Aloysius College, Mangalore, he began his career at Mangalore Refineries and Petrochemicals Ltd. (MRPL) in September 1995. He has extensive experience across corporate accounts, costing, budget, treasury, taxation, capital investments, and marketing finance. Currently serving as Executive Director - Chief Corporate Finance at ONGC, he previously held the CFO position at MRPL from July 2024 to March 2025 and from April 2022 to May 2023.

Professional Background and Expertise

The newly appointed CFO has demonstrated significant expertise in complex financial operations, including handling the merger of subsidiary company OMPL, a petrochemical complex situated in Mangalore SEZ. He was also part of the core team during the first-time implementation of SAP systems in MRPL. Additionally, he serves on the Board and as a Member of the Audit Committee of Mangalore SEZ Ltd. as Nominee Director of ONGC.

Petrochemicals Joint Venture Formation

Subject to DIPAM approval, the board approved the formation of an Integrated Petrochemicals Marketing & Trading Joint Venture Company in partnership with OPaL and MRPL. The shareholding structure will be distributed in a 50:25:25 ratio among ONGC, MRPL, and OPaL respectively.

The proposed joint venture aims to integrate petrochemicals marketing operations of group companies and create operational synergies. Expected benefits include cost reduction, revenue enhancement through improved pricing mechanisms, logistics optimization, grade optimization, and production of specialty grades. The JVC will also explore third-party sales opportunities, addressing the nation's import dependency in certain petrochemicals.

Gas Infrastructure Investment

The board approved significant financial commitments for the Duliajan Feeder Line Project through Indradhanush Gas Grid Limited (IGGL). This project will be implemented as an integral component of the North East Gas Grid Project, following directives from the Ministry of Petroleum and Natural Gas.

Board Meeting Details

The board meeting commenced at 18:40 hours and concluded at 21:30 hours on April 25, 2026. The decisions reflect ONGC's strategic focus on strengthening leadership capabilities, expanding petrochemicals operations through partnerships, and supporting national gas infrastructure development initiatives.