Vasudeva, who turns 58 this month, was Director (Marketing) in HPCL before replacing Subir Roy Choudhury as the head of the company.
Choudhury retired yesterday on attaining the superannuation age of 60 years.
Vasudeva, who had created history in July 2011 when she became the first women ever to make to the board of cash-rich oil PSU, is also Vice President- Youth & Gender, World Petroleum Council, the company said in a statement here.
Beginning her career in the oil industry with Engineers India Ltd, she served as Executive Director of LPG at HPCL and was also Chairperson of Bhagyanagar Gas Ltd.