New Delhi: ONGC Limited's Chairman and Managing Director (CMD) and Director (Finance) Subhash Kumar has been appointed as Additional Director on the board of Petronet LNG Limited with effect from April 9. Kumar has been appointed to the post in place of Shashi Shanker who ceased to be Director of the company due to his retirement from the services of ONGC on attaining the age of superannuation on March 31, Petronet LNG said in a regulatory filing to the stock exchanges on Saturday.
Kumar is an alumnus of Panjab University, Chandigarh, where he obtained his Bachelor’s degree and Master’s degree in Commerce with a gold medal. He is a fellow member of ICMAI and also an Associate Member of ICSI. He joined ONGC in 1985 as Finance & Accounts Officer (F&AO). After initially working in Jammu and Dehradun, he had a long stint at ONGC Videsh, the overseas arm of ONGC.
During his tenure with ONGC Videsh, Kumar has been associated with key acquisitions and expansion of the company’s footprint from a single asset company in 2001 into a company with a global presence in 17 countries with 37 assets. He played a key role in the evaluation and acquisition of many assets abroad by ONGC Videsh. He has been serving as Director (Finance) of ONGC since January 31, 2018. Prior to joining ONGC, he has had a brief stint with Petronet LNG Limited where he joined as Director (Finance) in August 2017.
Kumar has worked as head of business development, finance and budget and also as head treasury planning and portfolio management group at ONGC Videsh from April 2010 to March 2015. He then went on to serve as Chief Financial Officer of Mansarovar Energy Colombia Limited, a 50:50 joint venture of ONGC Videsh and Sinopec of China, from September 2006 to March 2010. Currently, he is also Chairman of MRPL Limited.
Petronet LNG Ltd
With equity participation from four oil and gas Maharatanas — Oil & Natural Gas Corporation (ONGC), Indian Oil Corporation Limited (IOCL), GAIL (India) Limited (GAIL) and Bharat Petroleum Corporation Limited (BPCL) — Petronet LNG Limited (PLL) was formed on April 2, 1998 as Joint Venture Company (JVC). It has set up the country's first LNG regasification terminal at Dahej, Gujarat, with a present nominal capacity of 17.5 MMTPA and another terminal at Kochi, Kerala having a nominal capacity of 5 MMTPA.
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