Oil and Natural Gas Corporation Ltd (ONGC) appoints CFO and approves petrochemicals joint venture

Key facts

• Oil and Natural Gas Corporation Ltd (ONGC) appointed Yogish Nayak S as Chief Financial Officer (CFO) effective from May 1, 2026.
• ONGC approved the formation of a joint venture (JV) for integrated petrochemicals marketing and trading with Mangalore Refinery and Petrochemicals Ltd (MRPL) and ONGC Petro additions Ltd (OPaL).
• The JV will have a shareholding structure of 50:25:25 between ONGC, MRPL, and OPaL, respectively.
• ONGC will contribute ₹25 crore towards equity share capital for the JV, subject to approval from the Department of Investment and Public Asset Management (DIPAM).
• ONGC approved an equity investment of up to ₹79.48 crore and a corporate guarantee of up to ₹185.45 crore for Indradhanush Gas Grid Ltd.
• The funding for Indradhanush Gas Grid Ltd is for the Duliajan feeder line project, which is part of the North East Gas Grid initiative.