Thursday, September 29, 2022

SM Vaidya takes over as Director (Refineries) of Indian Oil

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New Delhi: Shrikant Madhav Vaidya has taken over as the Director (Refineries) of Indian Oil Corporation Limited (IOCL) on Monday. Prior to the coveted inclusion in the IOCL board of directors, Vaidya was serving as Executive Director (Operations), Refineries Division. He is also a Director on the board of Chennai Petroleum Corporation Limited (CPCL) and the 60 MMTPA (million metric ton per annum) Ratnagiri Refinery & Petrochemicals Limited (RPCL). RPCL, West Coast Refinery and Petrochemicals Project, is the world’s largest grass root refinery project, coming up in Maharashtra. As Director (Refineries) of Indian Oil, now Vaidya spearheads the business and operations of nine refineries and petrochemical plants of Indian Oil.

Background

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.

SM Vaidya steered the timely roll-out of BS-VI grade auto fuels in Delhi-NCR. He has expanded green-energy options with bio-fuel and ethanol-blended fuel-related projects in refineries

The new director is among the select technocrats in the Indian oil and gas industry, who is proficient in all the facets of refinery-petrochemicals integration, desirable for the sustainability of the oil and gas industry in the long-term. Vaidya had also led IndianOil’s 8 MMTPA Mathura Refinery, and his dynamic tenure saw the introduction of innovative initiatives for greater sustainability and profitability.

New role and achievements

While serving at Refineries Division, his role was to ensure healthy gross refining margins, smooth supply of products and eco-friendly business operations. During his tenure, the Refineries Division registered a record performance on all major physical parameters. He also steered the timely roll-out of BS-VI grade auto fuels in NCR. He has expanded green-energy options with bio-fuel and ethanol-blended fuel-related projects in refineries.

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