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New Delhi, July 2, 2020
Shrikant Madhav Vaidya took over as the Chairman of the public sector Indian Oil Corporation Ltd. here on Wednesday.
Concurrently, he will also be Chairman of Chennai Petroleum Corporation Ltd., a stand-alone refining subsidiary of IndianOil and Indian Oiltanking Limited, another joint venture providing "terminalling" services apart from being on the board of Hindustan Urvarak & Rasayan Ltd., a joint venture setting up three world-scale fertiliser plants.
Vaidya who is on the board of Ratnagiri Refinery & Petrochemicals Ltd. will be taking over as its Chairman and will also be Director on the Board of M/s Petronet LNG Limited.
Prior to his elevation, Vaidya was the Director (Refineries) on the IndianOil Board, since October 2019. He succeeds Sanjiv Singh who superannuated from the services of the company on Tuesday.
A chemical engineer from the National Institute of Technology, Rourkela, Vaidya has over 34 years of experience in refining and petrochemicals operations. He has had a decade-long association with India's largest cracker plant - the Panipat Naphtha Cracker Complex, a major driver of IndianOil's petrochemicals business -- right from the drawing board stage.
He is among the select technocrats in the Indian oil and gas industry who are proficient in all facets of refinery-petrochemicals integration, desirable for the sustainability of the industry in the long-term, a press release from Indian Oil said.
During his tenure as Director (Refineries) and earlier as Executive Director (Refinery Operations) at IndianOil, he presided over several refinery expansion and petrochemical projects. He also steered the timely rollout of BS-VI grade auto fuels across the country, commenced supply of IMO-compliant bunker fuel (0.5% Sulphur) and a special winter-grade diesel for the high-altitude regions of the Himalayas, and expanded the Corporation's green energy offerings with projects related to biofuels and 2G/3G ethanol-blended fuels at its refineries.