Report by Kahnu Nanda; Paradip: 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. 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, an Indian oil press release informed.