“IndianOil refineries records major achievements in fiscal 2019-20” – Director (Refineries) SM Vaidya

Source Company Press Release
Company Indian Oil Corporation Limited
Tags Corporate: Overview/Strategy, Country: India
Date April 02, 2020

FY 2019-20 has been a landmark year for IndianOil, which became the first Oil PSU to accomplish BS-VI auto fuel quality compliance from its nine refineries to fuel 27500 filling stations of IOC across the country. Aimed at bringing down vehicular emissions & playing our part in breathing a cleaner air, the feat was achieved a fortnight before the mandated date of April 1, 2020. "It was a herculean task, and I congratulate Team Refineries for playing a pivotal role in this historic achievement", said Mr Shrikant Madhav Vaidya, Director (Refineries), IndianOil, in a message to more than 13300 strong Team Refineries on the first day of the new fiscal 2020-21.

Director (Refineries) shared that during 2019-20, IndianOil refineries notched up an excellent performance across major physical parameters. This includes the processing of 69.4 Million Metric Tonnes of crude, amidst mega constructions within operating refineries & major shutdowns & revamps of units.

Mr Vaidya spoke of the innovative energy solutions offered to key stakeholders like supply of winter grade diesel for people residing in high altitude areas like Leh; world-class NATO grade diesel to the Indian Navy; supply of IMO, the low sulphur marine fuel for the shipping industry, supplied much before the January 1, 2020 deadline given by the International Maritime Organsiation, thus becoming the first Indian company to do so.

During the last fiscal, Mr Vaidya added that IndianOil inked agreements with ONGC &Oil India Ltd. for Carbon Capture & Utilisation (CCU) for Enhanced Oil Recovery (EOR). This will help increase domestic oil production while reducing India's greenhouse gas emission intensity, as a commitment towards sustainable business practice.

Director (Refineries) of India's largest refiner also expressed his deep appreciation for the IndianOil teams working on the frontline, round-the-clock, for ensuring uninterrupted supply of crucial petroleum products across the country, despite the lockdown.

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