New Delhi: Shrikant Madhav Vaidya is set to assume charge as Director (Refineries) at Indian Oil Corporation as his name has been recommended by the Public Enterprise Selection Board (PESB). Vaidya was selected for the post from a list of five candidates, all of whom were from within IOC. Vaidya is currently serving as Indian Oil Corp's executive director of operations.
Vaidya is a graduate in Chemical Engineering from NIT Rourkela and holds a diploma in Business Management. He has 33 years of extensive experience in refining and petrochemicals operations. Vaidya has had a decade-long association with India's largest cracker plant, the Panipat Naphtha Cracker Complex, right from its commissioning stage. Panipat Naphtha Cracker Complex is one of the major drivers of IOCL’s petrochemicals business.
Indian Oil Corporation Limited (IOCL), commonly known as IndianOil is a government-owned oil and gas company headquartered in New Delhi. It is a Maharatna PSU under the Ministry of Petroleum and Natural Gas (MoPNG). IndianOil is the largest commercial oil company in the country. It is ranked 1st in Fortune India 500 list for the year 2016 and 117th in Fortune Global 500 list of world's largest companies in the year 2019. It is India's largest downstream oil company, with a workforce of more than 33,000 employees, a turnover of Rs 506,428 crore and a net profit of Rs 21,346 crore in 2017–18.
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