Shrikant Madhav Vaidya has taken over as the director (refineries) of IndianOil – India’s highest ranked public sector enterprise (PSE) in ‘Fortune 500’ global listing.
Vaidya is also a director in the board of Chennai Petroleum Corporation Ltd. (CPCL) and the 60 MMTPA West Coast Refinery and Petrochemicals Project, the world’s largest grass root refinery project, coming up in Maharashtra.
A chemical engineer from the National Institute of Technology, Rourkela, Vaidya has 33 years of extensive experience in refining & petrochemicals operations, said a press release issued to the media on Tuesday by Assam Oil Division (AOD) at Digboi.
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The Diboi Refinery, earlier owned and operated by the Assam Oil Company Limited/Burmah Oil Company, came into the fold of the Indian Oil Corporation Limited (IOCL) by an Act of Parliament on October 14, 1981 and became the Assam Oil Division of IOCL.
Vaidya has 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 IOC’s petrochemicals business.
He is among the select technocrats in the Indian oil & gas industry.
Vaidya is proficient in all the facets of refinery-petrochemicals integration, desirable for the sustainability of the oil & gas industry in the long-term.
Vaidya 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.
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.”
“He also steered the timely roll-out of BS-VI grade auto fuels in NCR, and has expanded green energy options with bio-fuel & ethanol-blended fuel related projects in refineries,” it said.
Vaidya also led IndianOil’s 8 MMTPA Mathura Refinery and his dynamic tenure has seen the introduction of innovative initiatives for greater sustainability and profitability.
Meanwhile, a strong technological prowess, business acumen and people-centric leadership style, Vaidya nurtures a strong vision of leveraging technology, innovative & sustainable solutions for the company’s transformation into an integrated energy major, the release added.