Oil & Natural Gas Corporation Limited has announced a senior management change with the superannuation of Executive Director Ajay Dixit, effective from February 1, 2026. The company communicated this development to both the National Stock Exchange of India Limited and BSE Limited as part of its regulatory disclosure obligations.

Regulatory Disclosure Details

The announcement was made pursuant to Regulation 30 read with Schedule III of the SEBI (LODR) Regulations, 2015, which mandates disclosure of changes in senior management positions. The communication was signed by Company Secretary & Compliance Officer Shashi Bhushan Singh and digitally authenticated on February 1, 2026.

Management Transition Summary

The senior management change details are outlined below:

Corporate Communication

ONGC's formal communication to stock exchanges emphasized that this change represents a routine superannuation process. The company maintained its standard protocol for senior management transitions, ensuring proper documentation and regulatory compliance. The disclosure was addressed to both major Indian stock exchanges where ONGC shares are listed under the symbol ONGC with BSE Security Code 500312.

Conclusion

This management transition reflects the natural progression of executive careers within India's largest oil and gas exploration company. The superannuation of Executive Director Ajay Dixit marks a planned leadership change as ONGC continues its operations in the energy sector.

Oil & Natural Gas Corporation Limited has formally clarified to stock exchanges that it is not engaged in any definitive negotiations or arrangements with ExxonMobil, responding to market speculation about a potential partnership between the two energy giants.

Market Movement and Sector Performance

The clarification came as ONGC's shares gained momentum alongside other exploration and production companies on January 29, 2026. The company noted that rising Brent crude oil prices have positively impacted Indian E&P sector valuations.

Response to Media Reports

The clarification was issued in response to a news report published on livemint.com dated January 28, 2026, which suggested that ONGC was exploring partnership opportunities with ExxonMobil for joint bidding on oil and gas blocks. The company's response was structured to address specific queries from the stock exchanges.

Official Company Position

In its formal response to the National Stock Exchange and BSE Limited, ONGC provided clear answers to regulatory queries. When asked about potential negotiations with ExxonMobil, the company stated definitively that it is "presently not engaged in any definitive negotiations or arrangements with ExxonMobil."

The company also confirmed it was not aware of any undisclosed information that could explain the trading movement in its shares, and indicated no regulatory or legal proceedings were involved in the matter.

Regulatory Compliance

The clarification was issued under Regulation 30 of SEBI regulations, demonstrating ONGC's commitment to transparent communication with investors and market participants. Company Secretary and Compliance Officer Shashi Bhushan Singh signed the official communication on January 29, 2026.

The company attributed the positive market sentiment primarily to the broader trend of increasing Brent crude oil prices, which typically benefits upstream oil and gas companies through improved operational economics and enhanced asset valuations.