Bharat Petroleum Corporation Limited has announced key changes to its Board of Directors, with the appointment of a new Additional Director and the completion of an Independent Director's tenure.

New Director Appointment

The Ministry of Petroleum & Natural Gas, Government of India, has nominated Shri Vedveer Arya as Additional Director on the company's Board effective 9th March 2026. His appointment is for a period of three years on co-terminus basis or until further orders, whichever is earlier.

Professional Background

Shri Vedveer Arya brings extensive experience from the Indian Defence Accounts Service, being a 1997 batch officer. He holds an M.A. from Delhi University and currently serves as Additional Secretary & Financial Advisor in the Ministry of Petroleum & Natural Gas.

His previous roles include:

• Joint Secretary & Additional FA(R&D) at Ministry of Defence
• Integrated Financial Adviser to Southern Naval Command, Kochi
• Integrated Financial Adviser to Southern Air Command, Trivandrum
• Director (Finance) in DRDO, Hyderabad for Agni Missile Programme and tactical Missile programmes

Additionally, he has authored various books on Indian History and mathematics, demonstrating his diverse expertise beyond his professional responsibilities.

Board Transition

Concurrently with the new appointment, Dr. Sushma Agarwal has ceased to be an Independent Director of the company effective 10th March 2026 upon completion of her tenure. This transition ensures continuity in the company's governance structure while bringing fresh perspectives to the Board.

Regulatory Compliance

The company has confirmed that Shri Vedveer Arya is not debarred from holding directorship by any SEBI order or other regulatory authority. The appointment details have been communicated to both BSE and NSE in compliance with Regulation 30 of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015.

These Board changes reflect the company's commitment to maintaining strong governance standards while ensuring appropriate representation from the government sector, given its status as a public sector enterprise in the petroleum and natural gas industry.

Bharat Petroleum Corporation Limited has announced significant changes in its senior management following the superannuation of two key executives. The company formally communicated these developments to both BSE and NSE on March 1, 2026, in compliance with regulatory disclosure requirements.

Executive Departures

The oil marketing company disclosed that two senior executives have concluded their tenure with the organization through superannuation. The departures were effective February 28, 2026, marking the end of their respective service periods with the corporation.

Regulatory Compliance

The announcement was made in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This regulation mandates listed companies to disclose material events and information that could impact investor decisions, including changes in senior management positions.

The disclosure was simultaneously submitted to both major stock exchanges where the company's shares are listed. Company Secretary V. Kala signed the official communication, ensuring proper corporate governance protocols were followed in announcing these management transitions.

Management Structure Impact

The superannuation affects two critical operational areas within the organization. The Mumbai Refinery, one of the company's key refining facilities, will see a change in its executive leadership. Additionally, the Business Process Excellence Centre, responsible for operational efficiency and process optimization, will undergo leadership transition.

These departures represent natural succession planning as executives reach their retirement age, allowing for fresh leadership perspectives in these important operational divisions.