IndianOil appoints new director for refineries

IndianOil appoints new director for refineries
Published: 17 October 2019 - 7 a.m.
By: Martin Menachery
SM Vaidya has taken over as the director of refineries at IndianOil (IOC). Vaidya is also a director on the board of Chennai Petroleum Corporation Limited (CPCL) and the 60mmtpa West Coast Refinery and Petrochemicals Project, the world's largest grass root refinery project, coming up in Maharashtra.

He now spearheads the business and operations of nine refineries and petrochemical plants of IndianOil. With a robust refineries division, IndianOil (including its group companies) remains the nation's top refiner with a group refining capacity of 80.7 million tonnes per annum/161.4 million barrels per day.

A chemical engineer from the National Institute of Technology, Rourkela, Vaidya has 33 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 – right from its commissioning stage, which is one of the major drivers of IOC's petrochemicals business. Vaidya is among the select technocrats in the Indian oil and gas industry, who is proficient in all the facets of refinery-petrochemical integration, desirable for the sustainability of the oil and gas industry in the long-term.

Prior to his elevation, Vaidya was heading the operations department of the refineries division, ensuring 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.

Vaidya also steered the timely roll-out of BS-VI grade auto fuels in NCR, and has expanded green energy options with bio-fuel and ethanol-blended fuel related projects in refineries. He has also led IndianOil's 8mmtpa Mathura refinery, and his dynamic tenure saw the introduction of innovative initiatives for greater sustainability and profitability.

With a strong technological prowess, business acumen and people-centric leadership style, Vaidya nurtures a strong vision of leveraging technology, and innovative and sustainable solutions for the company's transformation into an integrated energy major.

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