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IndianOil names S M Vaidya as Director

October 17/2019

MOSCOW (MRC) -- Mr. Shrikant Madhav Vaidya has taken over as the Director (Refineries) of IndianOil - India's highest ranked Public Sector Enterprise in 'Fortune 500' global listing, said Hydrocarbonprocessing.

He is also a Director on the board of Chennai Petroleum Corporation Ltd. (CPCL) & the 60 MMTPA West Coast Refinery and Petrochemicals Project, the world's largest grass root refinery project, coming up in Maharashtra.

Mr. Vaidya now spearheads the business & operations of nine refineries & 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, Mr. SM Vaidya has 33 years of extensive experience in refining & petrochemicals operations. Mr. Vaidya 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. He is among the select technocrats in the Indian oil & gas industry, who is proficient in all the facets of refinery-petrochemicals integration, desirable for the sustainability of the oil & gas industry in the long-term.

Prior to his elevation, Mr. Vaidya was heading the Operations Dept. 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. Mr. S M Vaidya has also led IndianOil's 8 MMTPA 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, Mr. Vaidya nurtures a strong vision of leveraging technology, innovative & sustainable solutions for the company's transformation into an integrated energy major.

As MRC informed earlier, Indian Oil Corp in September completed turnaround in early-October, 2019. The cracker was shut in early-September, 2019 for a maintenance turnaround. Located in Panipat, in the northern Indian state of Haryana, the cracker has an ethylene production capacity of 857,000 mt/year and propylene capacity of 425,000 mt/year.

Ethylene and propylene are feedstocks for producing polyethylene (PE) and polyprolypele (PP).

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 1,255,800 tonnes in the first seven months of 2019, up by 9% year on year. Shipments of all PE grades increased. At the same time, the estimated PP consumption in the Russian market was 796,120 tonnes in January-July 2019, up by 11% year on year. Shipments of PP block copolymer and homopolymer PP increased.

Indian Oil Corporation Limited, or IndianOil, is an Indian state-owned oil and gas corporation with its headquarters in New Delhi, India.


mrcplast.com
Author:Anna Larionova
Tags:PP, PE, ethylene, propylene, Indian Oil Corp.
Category:General News
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