Oil India Limited, a leading public sector company engaged in the exploration, development, and production of crude oil and natural gas, has appointed Abhijit Majumder as its new Chief Financial Officer (CFO), effective December 18, 2024. Majumder will also hold the position of Director (Finance), a role he was appointed to earlier on November 20, 2024. He succeeds Rupam Barua, the former Executive Director (F&A), who has held the position prior to this transition.
Majumder’s appointment marks a significant milestone for Oil India, bringing in a seasoned professional with over three decades of experience in financial management and corporate governance. With an impressive career spanning more than 32 years, Majumder is a senior finance professional whose expertise covers a wide range of disciplines, including risk management, project management, corporate business development, and financial governance. His comprehensive background in finance, along with his experience in overseeing corporate strategies, positions him well to lead the company’s financial operations during a period of growth and transformation in the energy sector.
Abhijit Majumder is a member of the Institute of Cost & Management Accountants of India (ICMAI) and holds a Bachelor’s degree in Economics and Law. In addition, he has earned a post-graduate diploma in Forex Management, further demonstrating his proficiency in financial management and regulatory compliance. His academic and professional credentials will enable him to make informed decisions to drive Oil India’s financial strategies in line with global standards.
Oil India, with its vast operations in the oil and gas sector, has always emphasized the importance of sound financial management to ensure sustainable growth. The company’s decision to appoint Majumder underscores its commitment to maintaining a robust financial structure while navigating challenges in the energy market. His extensive knowledge in corporate governance and compliance will be vital in ensuring that Oil India adheres to regulatory standards and maintains transparency in its operations. Furthermore, Majumder’s risk management experience is expected to help the company mitigate any potential risks associated with volatile energy prices and regulatory changes, allowing for more strategic planning in future ventures.
Majumder’s predecessor, Rupam Barua, had overseen key financial operations and played a crucial role in managing the company’s financial activities. Barua’s tenure was marked by a focus on ensuring strong fiscal health for the company, and Majumder’s appointment is seen as a continuation of this approach. The leadership transition is aimed at reinforcing Oil India’s financial stability, ensuring that the company remains adaptable in a rapidly evolving energy sector.
Oil India has been expanding its operations and strengthening its position as one of the major players in India’s oil and gas industry. Majumder’s wealth of experience will likely prove valuable as the company navigates the challenges of an evolving energy landscape, including the shift towards renewable energy sources and the increasing importance of sustainable practices in the oil and gas sector. As Oil India continues to scale up its operations, Majumder’s strategic oversight will be crucial in helping the company achieve its long-term growth objectives. His leadership in financial management will contribute significantly to Oil India’s overall corporate strategy, ensuring a balanced approach to financial growth and sustainable development.
With the ongoing changes in the global energy landscape, Majumder’s leadership is expected to strengthen Oil India’s position in the competitive market, helping the company meet its financial and operational goals effectively. His experience will enable Oil India to adapt to new challenges and opportunities, ensuring its continued success and growth in the energy sector.
