S.M. Vaidya

Indian Oil Corporation Ltd.

Chairman

Mr. Shrikant Madhav Vaidya is a Chemical Engineer from the National Institute of Technology, Rourkela. He has over 34 years of extensive experience in refining & petrochemicals operations. He has had a decade-long association with India's largest cracker plant – the Panipat Naphtha Cracker Complex, a major driver of IndianOil's petrochemicals business – right from the drawing board stage. He is among the select technocrats in the Indian oil & gas industry who are proficient in all facets of refinery-petrochemicals integration, desirable for the sustainability of the oil & gas industry in the long-term.Mr. Vaidya is also a Non-Executive Chairman on the Board of Chennai Petroleum Corporation Ltd. (a Subsidiary of IndianOil), Ratnagiri Refinery & Petrochemicals Ltd. and Indian Oiltanking Ltd. (both Joint Venture Companies). He is also a Non-Executive Director on the Board of Petronet LNG Ltd. (a Joint Venture of IndianOil).

SESSIONS WITH S.M. Vaidya

Wednesday, October 28

  • 05:25pm - 06:00pm

    Executive Conference

    Future of Refining & Petrochemicals in a World of Surplus

    Energy transition is shifting demand from traditional products of refining, including gasoline, diesel, and jet fuel. At the same time, the trend is exacerbated by a COVID-19–related drop in fuel demand from the transport sector. Petrochemicals feedstocks, often regarded as by- products of refining activity and priced as such, are likely to take a greater percentage of the barrel. Traditionally, naphtha has sold at little higher than crude oil but this will change as chemicals move from 25%–30% of oil demand growth to 70%–100% of growth when fuel demand reaches a plateau.

    As part of this trend, refinery/petrochemical integration is deepening globally, and the interest of energy companies in chemicals in growing. Strategies are changing and major investments are underway—on a new scale and involving new technologies.

    How will this play out in India
    Which companies will be involved?
    What new regional alliances will be forged?