Vikas Kaushal Appointed as HPCL CMD

Hindustan Petroleum Corporation Ltd (HPCL) has appointed Vikas Kaushal as its new Chairman and Managing Director (CMD) for a five-year term. This is the first time a private-sector executive has been chosen to lead a public sector oil company in India.

As of March 11, 10:17 AM, Hindustan Petroleum Corp Ltd is trading at ₹328.70, up ₹2.90 (0.89%) for the day, but down 19.72% over the past six months and 3.67% over the past year.

Background

Kaushal has over 30 years of experience in oil and gas, power, and renewables. Before joining HPCL, he was the global leader for energy and process industries at Kearney, a management consulting firm. He also served as Managing Director and Country Head for Kearney India for five years.

Kaushal holds a chemical engineering degree from Punjab University and an MBA from IIM Ahmedabad. He was elected twice to Kearney’s Global Board of Directors.

Work with Public Sector Oil Companies

Kaushal has worked closely with Indian Oil Corporation (IOC), Bharat Petroleum (BPCL), GAIL, and HPCL in various capacities. His work involved:

• IOC: Helped establish the petrochemicals and gas divisions, worked on refinery maintenance improvements, and handled cost transformation projects.
• HPCL: Set up a Centralised Procurement Office, introduced energy-saving measures, and contributed to petrochemical diversification strategies.
• BPCL: Led net-zero planning and developed petrochemicals strategies.

Experience in the Power Sector

Apart from oil and gas, Kaushal has worked on corporate planning and maintenance strategies for NTPC and Tata Power. He has also been involved in industrial power sales strategies for a global firm.

Conclusion

All in all, the appointment comes at a time when HPCL is focusing on expanding its operations and working on projects related to energy transition. With his consulting and industry background, he will oversee HPCL’s operations and long-term projects.

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