about subir raha
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  • Memberships
  • Positions in NGOs
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Curriculum Vitae: Mr. Subir Raha | Download PDF Version

Mr. Subir Raha received the global recognition of Energy Executive of the year 2005, from the Petroleum Economist, London, in September 2006.

Mr. Raha had served as Chairman & Managing Director of Oil and Natural Gas Corporation Ltd. (ONGC), a Government of India Enterprise, for five years from May 25, 2001.

He focussed on growth strategies – corporate rejuvenation of structure and processes, aggressive investments in intellectual and physical assets, redevelopment of ageing fields, smart management of costs, taxes and funds, proactive acquisition of hydrocarbon reserves in India and overseas, innovative HRD, state-of-the-art information & control technologies, effective HSE and carbon management, forward integration for value addition, best-in-class corporate pride and image, employee motivation and unwavering stress on ethics and corporate governance; implementation of the Integrity Pact was one of his several ‘firsts’ in India.

Mr. Raha led ONGC to evolve from a sectoral E&P company to an Integrated Energy Major on global scale, with businesses across most verticals on the Hydrocarbon Value Chain: Exploration, Production, Drilling, Refining, Terminalling, Trading, Marketing, Pipelines, LNG, Power (including wind-power), Petrochemicals, Underground Coal Gasification, Helium, Carbon Management, Special Economic Zones (Dahej, Mangalore and Kakinada), R&D and related M&As and JVs. He served concurrently as Chairman of the Group Companies incorporated in India and abroad for these ventures.

Recognising the pursuit of excellence by this State-owned Enterprise, ONGC became the only Indian Company, ever, to be featured in the FORTUNE’s listing of the World’s Most Admired Companies; this was based on a global poll (2007) of 16,000 directors, senior executives and analysts on nine criteria: quality of management, quality of products & services, innovativeness, wise use of corporate assets, financial soundness, talent retention, long-term investment value, corporate responsibility to the community and the environment, and effectiveness in doing business globally.

ONGC’s market capitalisation increased more than 10 times, from under Rupees 20,000 Crore in May 2001 to over Rupees 2,00,000 (Two Lakh) Crore (approx. USD 45 Billion) in May 2006, making ONGC the Most Valuable Indian Company during his tenure.

In this period, ONGC created more wealth than any other business enterprise, ever, in India.

Moody's, the international credit-rating agency, rated ONGC (2005) as the most creditworthy company in India, ranked two notches above the sovereign rating, the best-ever achieved by any Indian company.

ONGC became the leader among all Public- and Private Sector Companies in India in terms of Net Worth (USD 11.7 Billion on March 31, 2006), Net Profit (USD 3.5 Billion for 2005-06) and Dividend pay-out (stepped up to 450% for 2005-06) for five consecutive years.

In 2006, ONGC was placed 256th, ahead of all Indian Companies in FORBES Global list of 2000 mega-corporates, based on composite ranking of Sales, Profits, Assets and Market Value. In FortuneGlobal 500 listing, ONGC was ranked 402nd by (net) sales and 115th by profits, the best among all Indian companies. In Platt's 250 Global Energy Companies list for 2006, ONGC was ranked as the #1 E&P Company in the World by Assets, Revenues, Profits and Return on Invested Capital.

ONGC’s 10% equity sale (approx. USD 2.2 Billion) in early 2004 was acknowledged as the biggest and the fastest (fully subscribed in about 11 minutes) Indian equity deal on global basis.

Mr. Raha concurrently served as Chairman of the wholly-owned subsidiary, ONGC Videsh Ltd. (OVL), building OVL into India’s biggest MNC with investments averaging USD 1 Billion every year. From 1 property in 1 country when Mr. Raha took charge, OVL expanded to 24 properties (31 Blocks) in 14 countries, with several overseas subsidiaries and joint ventures. From a minor reserve base and zero production when Mr. Raha took over as Chairman, OVL became the second largest E&P Company of India in terms of reserves and production, next only to parent ONGC.

ONGC acquired Mangalore Refinery & Petrochemicals Ltd. (MRPL), a terminally ‘sick’ company in a distress sale in 2003. Asiamoney recognised this acquisition as the Best Deal in Asia for 2003. Mr. Raha turned around MRPL in the very first year, going from a net loss of Rupees 430 Crore to a net profit of Rupees 460 Crore, leading to 1100% increase in market capitalisation. This is recognised as the best and the fastest corporate turnaround in India. MRPL is rated as the best refinery in India in terms of capacity utilisation and energy management since 2003-04.

Mr. Raha launched India's first in-house graduate programme in Engineering, piloted global-scale infotech projects (ERP & SCADA), and designed unique management development programmes.

With Mr. Raha as Chairman, ONGC paid the highest-ever dividend in Indian corporate history (USD 1.44 Billion in 2005-06), and OVL and MRPL both declared their first dividends after 40 years and 17 years of incorporation, respectively.

With Mr. Raha's leadership, ONGC engaged in partnerships along the hydrocarbon value chain with almost all global Oil & Gas majors, among them Exxon, BP, Shell, Gazprom, Rosenaft, PDVSA, Statoil-Hydro, Sinopec and ENI.

Earlier, Mr. Raha had served as Director (HR) (1998-2001), and concurrently, Director in-charge of Business Development, Information Technology and Corporate Communications of Indian Oil Corporation Ltd (IndianOil), the top FortuneGlobal Company of India where he had began his career as a Management Trainee in 1970.

In IndianOil, Mr. Raha handled field and staff assignments in Supply & Distribution, Plant Operations, Engineering, Sales, HR and Marketing. He created several Indian Firsts: networked on-line transaction processing (OLTP) across India (1986-88), real-time automated product terminals (1993-95), and modern Retail Outlets with Convenience Stores & ATM (1995-96). Several of his innovations, especially in Logistics and LPG cooking gas marketing, became Industry standards. As Director (HR), he set up India's first in-house MBA programme. He conceptualised and piloted the first global-scale ERP implementation in India. He set up lubricant blending in Malaysia and retail marketing in Mauritius. He successfully managed privatisation of Lubrizol India Ltd. He was Chairman or Director on several JVs including IndianOil Petronas Ltd.

During 1999-2004, Mr. Raha played a key role in Petronet LNG Ltd. (Director during 1999-2001 and member of the Promoters' Committee, 2001-2006), a PPP company for initiating LNG business in India.

Mr. Raha served (1996-98) on deputation in the Ministry of Petroleum & Natural Gas, Government of India, as the Head of the Oil Coordination Committee (OCC), the nodal agency for planning, monitoring and control of Oil & Gas business under Administered Pricing regime. On this assignment, he managed, among other things, national logistics, strategic planning, canalised imports/exports, administered pricing and reform strategy. He conceptualised the Petroleum Federation of India (Petrofed), the Chamber of Commerce for Oil and Gas Industry. He is a founding-member of the Petrotech Society, chartered to promote academics in India's Oil & Gas Industry.

He created the IndianOil Foundation to protect, preserve and promote the archeological heritage of India. He set up the ONGC Energy Centre Trust, with an initial corpus of Rupees 500 Crore, for “Mind to Market” R&D in all forms of energy.

Mr. Raha was Chairman / President of several non-governmental organisations (NGOs) including International Federation of Training & Development Organizations (IFTDO), World Oil & Gas Assembly, Indian Geological Congress, Standing Conference of Public Enterprises (SCOPE), Petroleum Sports Promotion Board, National Petroleum Management Programme, Indian Institution of Industrial Engineers and Research Council of the Indian Institute of Petroleum, Council of Scientific and Industrial Research (CSIR), Government of India. Mr. Raha was a member of the Board for Reconstruction of Public Sector Enterprises> (BRPSE) and the Ad hoc Group of Experts for Public Sector Empowerment, Government of India. He was the President (2006-07) of All India Management Association (AIMA). Mr. Raha is involved with several Chambers of Commerce e.g. FICCI, CII, ASSOCHAM, ICC and Kanara CCI.

Mr. Raha was a Fellow of the Indian National Academy of Engineering, All India Management Association, World Academy of Productivity Sciences, Indian Institution of Chemical Engineers, Indian Society for Training & Development, International Project Management Association, and others.

Mr. Raha was committed to CSR, helping distressed communities like weavers in Chanderi to rag-pickers in New Delhi and rickshaw-pullers in Guwahati, among others. He set up the ONGCpura Trust to provide urban connectivities to rural communities, a vision of Dr. APJ Abdul Kalam, (then) President of India. Mr. Raha was the founder-Chairman of the Global Compact Society in India, a campaign initiated by Dr. Kofi Annan, (then) Secretary General of the United Nations. He created the Sahayog ('collaboration') Trust to provide relief to contract- and casual workers and their families, the first such initiative in India. He introduced Agrani Samman ('Honour the Pioneer') scheme to provide ex-gratia pension to former employees and their widows, again the first such initiative in the Indian corporate scene.

Mr. Raha received several awards for business leadership, including the E&Y India Business Leadership Award as Manager-Entrepreneur of the Year, the SCOPE award for the Best Public Sector CEO, and Sir Jehangir Ghandy Medal for Industrial and Social Peace. He was a featured speaker in many national and international conferences and investor meets, including Offshore Technology Conference (OTC 2006), Houston and Chatham House, London (2004-05).

Born on August 28, 1948, Mr. Raha excelled in academics, earning University merit rankings in Matriculation and Pre-University examinations with National Scholarships and Prizes. He graduated in Electronics & Telecommunications Engineering, specialising in Industrial Electronics from Jadavpur University in 1969, with several prizes including the medal for being the Best All-rounder graduate of the University. He did his MBA with Distinction at the University of Leeds in 1985, specialising in Strategic Marketing. He is an alumnus of the Administrative Staff College, Henley (1995).

Mr. Raha was Boy Scout Troop Leader in school, Senior Under-Officer in National Cadet Corps at the University, and served with field rank in the Territorial Army, winning the Commandant's gold medal in post-commission training. In the University, he was actively engaged in the Mountaineering & Trekking Club, Film Society, Debating Society, Photographic Club and the Students Union; he was the editor of the University magazine, Jadavpur Viswavidyalaya Patrika.

Note: conversion rate on March 31, 2006: USD 1 = INR 44.6
Honorary Fellowships
  • Indian National Academy of Engineering (INAE)
  • Indian Institute of Chemical Engineers (IIChE)
  • World Academy of Productivity Sciences (WAPS)
  • Institute of Directors (IOD)
  • International Project Management Association (IPMA)
  • Indian Society for Training & Development (ISTD)
  • All India Management Association (AIMA)
Memberships on Boards, Trusts & Institutions

2006 - 2010
  • Chairman, Team Raha Ideation Pvt. Ltd., 2007-10
  • Chairman, Tridea Training & Technology Pvt. Ltd., 2007-10
  • Chairman, India Green Fuel Fund, Mauritius, 2007-10
  • Chairman, Spice Exploration Ltd., 2008-10
  • Chairman, Hinduja National Power Corporation Ltd., 2007-08
  • Executive Vice Chairman, Hinduja Group (India) Ltd., 2007-08
  • Non-executive Director, Ashok Leyland Ltd., 2006-08
  • Independent Director, Nitesh Estates India Ltd., 2007-10
  • Independent Director, KLG Systel Ltd., 2007-10
  • Independent Director, Areva T&D India Ltd., 2008-10
  • Independent Director, RP Infosystems Pvt. Ltd., 2007-10
  • Independent Director, Invent Assets Securitization & Recons. Pvt. Ltd., 2007-10
  • Director, Uttaranchal Biofuel Board, 2007-10

Tenure on ONGC Board: May 2001–May 2006
  • Chairman & Managing Director, Oil and Natural Gas Corporation Ltd. (ONGC)
  • Chairman, ONGC Videsh Ltd. (OVL)
  • Chairman, Mangalore Refinery & Petrochemicals Ltd. (MRPL)
  • Chairman, ONGC Mittal Energy Ltd. (OMEL)
  • Chairman, ONGC Mittal Energy Services Ltd. (OMESL)
  • Chairman, Mangalore SEZ Ltd. (MSEZL)
  • Chairman, Kakinada SEZ Ltd. (KSEZL)
  • Chairman, Kakinada Refinery & Petrochemicals Ltd. (KRPL)
  • Chairman, ONGC Tripura Power Company Ltd. (OTPC)
  • Chairman, North-Eastern Power Transmission Company Ltd. (NEPTC)
  • Chairman, Mangalam Retail Services Ltd. (MRSL)

Tenure on IOC Board: June 1998–May 2001
  • Director (HR), IndianOil Corporation Ltd. (IOCL) with additional charge of Business Development, Information Technology & Corporate Communications
  • Chairman, IndianOil Petronas Ltd.
  • Chairman, IndianOil Panipat Power Consortium Ltd.
  • Chairman, Management Committee, Kakinada IndianOil LNG Consortium
  • Director, Petronet LNG Ltd.
  • Director, Lubrizol India Ltd.
  • Director, IndianOil-TCG Petrochem Ltd.
  • Director, Oil and Natural Gas Corporation Ltd.

  • Trustee, IndianOil Foundation, 2000-06
  • Trustee, KD Malviya National Oil Museum, 1999-2001
  • Chairman, ONGCpura Trust, 2004-06
  • Chairman, ONGC Sahayog Trust, 2004-06
  • Chairman, ONGC Energy Centre Trust, 2004-06

Government of India Organisations
  • Chairman, Research Council, Indian Institute of Petroleum (IIP), Council of Scientific & Industrial Research, 02-06
  • Member, Central Direct Taxes Advisory Committee, Ministry of Finance, 2006-07
  • Member, Board for Re-construction of Public Sector Enterprises (BRPSE), 2004-06
  • Member, Ad-hoc Group of Experts on Empowerment of Central Public Sector Enterprises, 2004-05

  • Member, Governing Body, Indian Institute of Management, Ahmedabad, 2007-10
  • Member, Advisory Board, Foundation of Liberal Arts & Management, Pune, 2007-10
  • Member, Governing Body, International Management Institute, New Delhi, 2005-10
  • Member, Board of Governors, Centre for Organisation Dvpmt (COD), Hyd'bad, 2003-10
  • Executive Board, Association of Indian Management Schools, 2006-07
  • Member, Advisory Council, Indian Institute of Technology, Kharagpur, 2006-07
  • Member, Governing Body, Indian Institute of Management, Kozhikode, 2004-06
  • Member of the Court, Jadavpur University, Kolkata, 2004-05
Honorary Positions in NGOs

  • Materials Research Society of India, 2005-06
  • Patron-in-Chief, Association of Petroleum Geologists, India, 2001-06
  • Society of Petroleum Geophysicists, India, 2001-06

  • Petrotech Society, 2001-06
  • World Oil & Gas Assembly, Goa 2003 and Jaipur, 2005
  • Hydrocarbons Committee, Federation of Indian Chambers of Commerce & Industry (FICCI), 2003-05
  • National Committee on Environment, Confederation of Indian Industry (CII), 2004-05
  • 12th International Conference Advisory Board, IPMA, 2004-05
  • Business Council for Sustainable Development (BCSD), TERI, 2004-10
  • Strategic Management Group, 2005-10
  • Standing Conference of Public Sector Enterprises (SCOPE), 2002-03

  • President, All India Management Association (AIMA), 2006-07
  • International Federation of Training & Development Organizations (IFTDO), 2004-05
  • National Petroleum Management Programme (NPMP), 2002-06
  • Petroleum Sports Promotion Board (PSPB), 2005-06
  • Alumni Association, Delhi Chapter, NCE & Jadavpur University, 2005-06
  • Global Compact Society, India, 2003-06
  • Indian Society for Training & Development (ISTD), 2004-05
  • Indian Geological Congress, 2004-05
  • Indian Institution of Industrial Engineers (IIIE), 2001-04


A. Chambers of Commerce
  • National Council on Infrastructure, CII, 2007-10
  • Managing Committee, ASSOCHAM, 2002-10
  • Honorary Member, Kanara Chamber of Commerce & Industry, 2007-10
  • National Council, CII, 2002-06
  • Executive Board, SCOPE, 2001-06
  • Executive Committee, FICCI, 2002-05
  • Punjab, Haryana, Delhi Chamber of Commerce & Industry (PHDCCI), 2004-05
  • National Council on Corporate Governance, CII, 2004-05

B. Others
  • Vice Chairman, Construction Industry Development Council (CIDC), 2004-06
  • National Council, The Institution of Engineers (India), 2003-04
  • Governing Council, Indian Society for Quality, 2004-06
  • Mining, Geological & Metallurgical Institute of India (MGMI), 2005-06
  • Governing Body, Bhoovigyan Vikas Foundation
  • National Committee, American Bureau of Shipping, India, 2003-06
  • Board of Management, India Energy Forum, 2002-06
  • Vice President, World Confederation of Productivity Sciences (WCPS), India 2000-05
Awards & Recognitions to Subir Raha

  • “Shera Bangali” (Outstanding Bengali) in Business, Star Ananda, Kolkata

  • Public Sector CEO of the Decade, Grid Foundation, Mumbai
  • Paul Harris Diamond Pin, Rotary Foundation

  • Energy Executive of the Year 2005, Petroleum Economist, London
  • Exemplary Leader Award, World HRD Congress
  • Outstanding Contribution to Indian Corporate World, AP Cultural & Welfare Society
  • Corporate Leadership Award, Ramakrishna-Vivekananda International Foundation
  • Outstanding Service to Oil Sector, Priyadarshni Academy
  • Leadership & Excellence Award, Oceantex Conference

  • Manager-Innovator of the Year, India Business Leadership Awards, CNBC-BS
  • Teachers’ Achievement Award in Business Category
  • Deal of the Year Award for MRPL acquisition, Asiamoney
  • Sir Jehangir Ghandy Medal for Industrial and Social Peace, XLRI
  • Sir Dadabhai Naoroji Millennium Award, Dadabhai Naoroji Foundation
  • Lakshya - Business Visionary Award, National Institute of Industrial Engineering
  • Outstanding Contribution to Public Sector, Giants International
  • Personality of the Decade Award, KG Foundation | logo
  • Srijon Samman, Sangbad Pratidin
  • HR Ratna Award, National Institute of Personnel Management (NIPM)

  • Excellence & Outstanding Contribution to Public Sector Management - Best PSE Chief Executive, Standing Conference of Public Sector Enterprises (SCOPE), received from the Prime Minister of India
  • Manager-Entrepreneur of the Year, Ernst & Young
  • V Krishnamurthy Award for Excellence, Centre for Organisation Development
  • Corporate Role Model & Lifetime Achievement, Amity Business School
  • Chairman of the Year, Business Baron Magazine
  • CEO of the Year, Hindustan Times – Power Jobs
  • Management Man of the Year, Times Business School
  • Golden Peacock Award for Corporate Governance, Institute of Directors
  • Top CEO Award, Institute of Marketing & Management
  • Uttaranchal Ratan, All India Conference of Intellectuals
  • (Nominated) Business Leader of the Year, The ET Awards for Corporate Excellence | certificate

  • Business Leader of the Year, Indian Leadership Summit
  • Achiever of the Year, Chemtech Foundation
  • Super Achiever of the Year, Indira Group of Institutes

Territorial Army
  • Gold Medal, Best Officer in Post-Commission Training, 1983, Territorial Army, Army Service Corps (ASC) Centre, Bangalore
  • Long Service Medal, Territorial Army
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