Oil & Natural Gas Corporation (ONGC), India's leading oil and gas exploration and production company, has announced a significant leadership decision. The Board of Directors, in a meeting held on December 5, 2025, approved the re-employment of Arun Kumar Singh as Chairman of ONGC on a contract basis.

Key Details of the Re-employment

About Arun Kumar Singh

Arun Kumar Singh, who has been serving as the Chairman and CEO of ONGC since December 7, 2022, brings a wealth of experience to his role. With nearly four decades in the oil and gas industry, Singh's leadership extends beyond ONGC to several of its group companies.

Leadership Roles

Singh currently holds the position of Chairman in several ONGC group companies, including:

• ONGC Videsh Limited (OVL)
• Mangalore Refinery & Petrochemicals Limited (MRPL)
• ONGC Petro additions Limited (OPaL)
• ONGC Green Ltd. (OGL)
• Ayana Renewable Power Pvt. Ltd. (ARPPL)
• ONGC Energy Centre Trust (OECT)

Industry Recognition

Singh's influence in the industry is further exemplified by his roles as:

• Chairman of the CII Public Sector Enterprises Council
• Chairman of the Federation of Indian Petroleum Industry (FIPI)

Professional Background

Before joining ONGC, Singh served as the Chairman and Managing Director of Bharat Petroleum Corporation Limited (BPCL), a Maharatna and Fortune Global 500 Company. His experience also includes chairing Indraprastha Gas Ltd. (IGL) and serving as President (Africa & Australia) at Bharat PetroResources Ltd (BPRL).

Educational Background

Singh is noted for his academic excellence, being a Gold Medalist in Mechanical Engineering from the National Institute of Technology, Patna.

This re-employment decision, made in accordance with the Ministry of Petroleum & Natural Gas, Government of India's letter, underscores the confidence in Singh's leadership and his importance to ONGC's ongoing operations and strategic direction.

The continuity in leadership is likely to provide stability to ONGC's operations and strategic initiatives in the coming year, as the company navigates the dynamic global energy landscape.

Oil & Natural Gas Corporation (ONGC) has announced that S&P Global Ratings has withdrawn its 'BBB' long-term issue rating on the $600 million senior unsecured notes due 2026 issued by ONGC Videsh Vankorneft Pte. Ltd., a wholly owned step-down subsidiary of ONGC Videsh in Singapore. This withdrawal comes at the issuer's request, as per the company's regulatory filing.

Key Points

• The withdrawal affects only the $600 million notes due 2026 issued by ONGC Videsh Vankorneft Pte. Ltd.
• S&P's 'BBB' issuer credit ratings on ONGC remain unchanged.
• The 'BBB' long-term issue credit rating on the $300 million senior unsecured notes due 2029 issued by ONGC also remains unaffected.

Impact on ONGC's Credit Profile

Despite the withdrawal of the rating on ONGC Videsh Vankorneft's notes, ONGC's overall credit profile appears to remain stable. The company continues to maintain strong credit ratings from various agencies:

Implications for Investors

The withdrawal of the rating on ONGC Videsh Vankorneft's notes does not appear to signal any change in the credit quality of ONGC or its subsidiaries. Investors should note that:

1. The withdrawal was made at the issuer's request, which is a common practice in the credit rating industry.
2. ONGC's own credit ratings remain unchanged, indicating continued confidence in the company's financial strength.
3. The stable outlook across multiple rating agencies suggests a consistent view of ONGC's credit profile.

Conclusion

While the withdrawal of the credit rating on ONGC Videsh Vankorneft's $600 million notes is noteworthy, it does not appear to have a significant impact on ONGC's overall credit standing. The company continues to maintain strong ratings across various debt instruments, reflecting its solid financial position in the oil and gas sector.

Investors and stakeholders should continue to monitor ONGC's financial performance and any future changes in credit ratings or outlooks for a comprehensive understanding of the company's credit profile.