The appointment was approved by the company's Board of Directors on June 25, ONGC said in a regulatory filing.

Agarwal brings over 35 years of experience in finance and commercial management in the oil and gas sector. A Fellow Member of the Institute of Cost Accountants of India and an Associate Member of the Institute of Company Secretaries of India, he has been associated with ONGC since 1990.

Before joining ONGC's Board as Director (Finance), he served as Director (Finance) at ONGC Videsh Ltd from June 2022 and also chaired ONGC Overseas Investment Ltd (OOIL).

During his tenure at ONGC Videsh, the company mobilised over $3 billion through financing arrangements and established OOIL at GIFT City as the group's Global Treasury Centre.

ONGC said Agarwal's extensive experience in corporate finance, treasury management and strategic planning will support the company's growth and value-creation initiatives.

ONGC is engaged in exploration, development and production of crude oil, natural gas and value-added products.

ONGC reported a 3.1% rise in standalone net profit to Rs 6,649.97 crore in Q4 FY26, compared with Rs 6,448.28 crore in Q4 FY25. Revenue from operations added 2.7% year-on-year to Rs 35,928.18 crore in Q4 FY26.