Mumbai: Hindustan Petroleum Corporation Limited (HPCL) has announced a significant change in its Board of Directors with the appointment of Vikram Saxena as a Government Nominee Director. The appointment became effective on March 10, 2026, following a directive from the Ministry of Petroleum and Natural Gas.
Currently serving as Director (Technology & Field Services) at Oil and Natural Gas Corporation (ONGC), Saxena will hold the position on HPCL’s board for a three-year term on a co-terminus basis or until further orders, whichever occurs earlier.
Appointment in Line with SEBI Regulations
The board update has been made in compliance with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, which require listed companies to disclose important board-level changes.
The decision was taken during HPCL’s Board meeting held on March 10, 2026, which commenced at 2:00 p.m. and concluded at 6:00 p.m. The company informed stock exchanges about the update after receiving communication from the Ministry of Petroleum & Natural Gas.
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Two Government Nominee Directors Step Down
Along with the new appointment, HPCL also confirmed that two Government Nominee Directors have ceased to serve on the Board with effect from March 10, 2026. These include:
- Vinod Seshan
- Pankaj Kumar
The transition marks an important restructuring within the company’s governance framework.
Profile of Vikram Saxena
Vikram Saxena brings over 35 years of experience in Exploration & Production (E&P) operations across both onshore and offshore projects. He holds a degree in Mechanical Engineering and a postgraduate qualification in Human Resource Management.
At Oil and Natural Gas Corporation, Saxena currently leads the Drilling & Well Services campaign as Director (Technology & Field Services). In addition, he serves as a Director at ONGC Green Limited.
During his long tenure at ONGC, he has held several leadership roles, gaining expertise in operations management, maintenance, regulatory frameworks, and health, safety & environmental (HSE) policies.
HPCL also confirmed that Saxena has no relationship with any existing directors of the company and is not debarred by any regulatory authority from holding the position of director.
Strengthening Corporate Governance
With the appointment of an experienced energy sector professional like Saxena, Hindustan Petroleum Corporation Limited aims to further strengthen its governance structure. The inclusion of seasoned professionals on the board is expected to provide strategic guidance as the company continues expanding its operations in refining, marketing, and energy infrastructure.
About Hindustan Petroleum Corporation Limited (HPCL)
Hindustan Petroleum Corporation Limited is one of India’s leading oil refining and marketing companies and a Maharatna public sector enterprise. The company operates a vast network of fuel stations, refineries, pipelines, and LPG distribution systems across the country. HPCL plays a crucial role in India’s energy security while actively investing in cleaner fuels and sustainable energy initiatives to support the nation’s evolving energy needs.
