Hints that outsider will be new ONGC chairman
As the deadline approaches to apply for the ONGC chairman role, speculation is growing that an outsider has the best chance of winning this high-profile position.
Interested candidates have until April 1 (2025) to submit their applications to the PESB after it issued a vacancy notice on March 3 (2025) to replace Arun Kumar Singh, who retires on December 6 (2025). According to a well-placed source, Singh has reportedly hinted in meetings that his successor could come from outside ONGC, like he did.
Singh retired as Bharat Petroleum chairman in October 2022 before taking over at ONGC in December 2022. Another insider backs the likelihood of a new non-ONGC chairman, stressing that the eligibility criteria rule out most ONGC candidates.
Most board members are ineligible due to their retirement timelines. Only director (HR) Manish Patil has enough time left until retirement, but his background in human resources disqualifies him - HR is not part of the PESB's criteria for chairman selection.
EDs and GGMs who might otherwise be eligible are seen as lacking the stature to assume such an important role. "None appear worthy of the chairman position," our source stresses.
Further fueling speculation is the involvement of the oil ministry, which also advertised the vacancy on its website on top of the notice that the PESB issued. Usually, the PESB handles such adverts itself, we hear.
"This is the first time the oil ministry has advertised a vacancy for a PSU head without the process going through a search and selection committee," says a source. "This suggests there might be something going on behind the scenes."
Some speculate that the selection process is a sham, and the ministry might ask Singh to continue for two more years. "He (Singh) has strong political backing," says a source.
"He might just win a two-year extension until he turns 65."