New Delhi: Indian Oil Corporation Limited’s (IOCL) Chairman SM Vaidya is the new Chairman of the World LPG Association. The General Assembly of the World LPG Association has unanimously passed a resolution appointing Vaidya as its President on Monday during the ongoing World LPG Forum at Dubai 2021. Vaidya has been serving as Chairman of Indian Oil since July 1, 2020.
Vaidya is a graduate in Chemical Engineering from NIT Rourkela and holds a diploma in Business Management. He has over 35 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. He is among the select technocrats in the Indian oil & gas industry who are proficient in all facets of refinery-petrochemicals integration, desirable for the sustainability of the oil and gas industry in the long term.
Vaidya joined India Oil in 1987 and worked in various positions at Panipat Refinery. 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.
The World LPG Association (WLPGA) is the authoritative voice for the global LPG industry representing the full LPG value chain. The primary goal of the association is to add value to the sector by driving premium demand for LPG, while also promoting compliance to good business and safety practices. With over 300 members in 125 countries, the association brings together private and public companies involved in one, several or all activities of the industry, develop long-term partnerships with international organisations and implements projects on local and global scales.
The Association was established in 1987 and granted Special Consultative Status with the United Nations Economic and Social Council in 1989.
Commenting on his appointment as the WLPGA President, Vaidya said, "The increasing footprint of LPG has transformed the lives of millions of people across the world. And as we are poised to put our foot on the accelerator of the energy transition, this cleaner fuel will have a more strategic role to play. I look forward to leveraging my enriching experience as the leader of India's top energy major in driving the vision of WLPGA. Borrowing from India's rich on-ground experience, I can confidently say that the World LPG Association will have a defining role to play to ensure a sustainable and greener energy future for the entire world."
(PSU Watch- India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Telegram & Twitter as well. Join PSU Watch Channel in your Telegram and follow us on Twitter to stay updated)