New Delhi: V Satish Kumar has taken charge as Director (Marketing) of Indian Oil Corporation Limited (IOCL) on Thursday. Prior to this elevation, he was serving as Executive Director in the same Maharatna Oil PSU. According to an earlier order from the Department of Personnel & Training (DoPT), Kumar has been appointed to the post till the date of his superannuation, i.e. July 31, 2025, or until further orders, whichever is earlier.
Kumar is an engineering graduate. He also has a post-graduate degree in Management from the University of Ljubljana, Slovenia. With his in-depth knowledge of the marketing division and widespread exposure, Kumar has represented the corporation extensively at several international seminars and training programmes.
During his previous role, Kumar was the business head of Madhya Pradesh and Chhattisgarh, overseeing retail & direct sales, LPG, lube sales, operations, project management, planning, HRD, and Information Technology. He has also been instrumental in implementing key business initiatives like Direct Benefit Transfer for LPG consumers (DBTL), Pradhan Mantri Ujjwala Yojana (PMUY), and shift to BS-VI fuel. He brings to the board his expertise of over three decades in the marketing of petroleum products across various geographies in the country.
Satish Kumar is also currently on the Board of Beximco IOC Petroleum & Energy Ltd, a Joint Venture of IOC Middle East FZE (a wholly-owned subsidiary of Indian Oil in Dubai) and Beximco, Bangladesh. Earlier, he also served as the Chief Executive Officer of IndianOil Petronas Pvt Ltd (IPPL), a Joint Venture of IndianOil and Petronas, Malaysia. During his tenure, IPPL handled record volumes of LPG Imports, thus enabling Indian Oil to meet the surge in the LPG demand on account of Govt. of India's ambitious Pradhan Mantri Ujjwala Yojana program.
Underlining the role of Indian Oil in meeting the burgeoning energy appetite of the country, Kumar remarked, "As per a report released by OPEC in September this year, diesel and gasoline will make up 58 percent of India's oil demand in the next 25 years, from 51 percent presently. The report also estimates that India's oil demand will double to 11 million barrels by 2045, due to the growing economy, rapid urbanisation, and upward ambitions of the people in the country. As the Energy of India, Indian Oil is all geared up to fuel the aspirations of a rising superpower."
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