Shrikant Madhav Vaidya

Indian Oil Corporation Ltd.


Mr. Shrikant Madhav Vaidya, heads India’s downstream energy major, IndianOil, a Fortune 500 Company. He’s a Chemical Engineer with over 35 years of experience in the Oil & Gas sector with proficiency in refinery-petrochemicals integration. Mr. Vaidya spearheaded the successful rollout of greener BS-VI grade transport fuels across the country, before the April 1, 2020 timeline-an unparralleled feat of directly leapfrogging from BS-IV to BS-VI. Under Mr. Vaidya’s stewardship, IndianOil is undertaking capacity expansion of refineries with petrochemical integration and projects over 13 billion USD (over Rs one lakh crore) are on the anvil. IndianOil has also expanded its value-added offerings for the customers, including India’s first 100 octane premium gasoline (XP100), differentiated LPG etc. Various customer- centric measures and the introduction of ‘The IndianOil Rhino’ as the Company’s mascot, have revitalised Brand IndianOil. With future-ready business acumen and a ‘people-first’ leadership approach, Mr. Vaidya is charting IndianOil’s evolution as an integrated energy major. He’s a firm believer in the power of innovation, digitalisation and IndianOil’s prowess for pursuing futuristic, sustainable technologies for a better world. Aligned with this agenda, IndianOil is pioneering the hydrogen economy and is setting up India’s first Green Hydrogen Plant at Mathura; as well as forays into natural gas, renewables and bio energy. Besides business, Mr. Vaidya’s ‘nation first’ approach, saw IndianOil ensuring the procurement, supply and distribution of Liquid Medical Oxygen across the country to tide over the Covid-19 oxygen crisis. Mr. Vaidya is the Non-Executive Chairman of IndianOil’s subsidiary, Chennai Petroleum Corporation Ltd. and the Joint Venture Companies - Ratnagiri Refinery & Petrochemicals Ltd., Indian Oil Tanking Ltd. and Hindustan Urvarak & Rasayan Ltd. He is a Non-Executive Director on the Board of Petronet LNG Ltd., a JV of IndianOil. Mr. SM Vaidya also holds the position of the First Vice President of the World LPG Association, Paris.

Sessions With Shrikant Madhav Vaidya

Thursday, 21 October

  • 03:10pm - 03:40pm (IST) / 21/oct/2021 09:40 am - 21/oct/2021 10:10 am

    From Oil & Gas Companies to Energy Companies

    Live Stream

    With increasing focus on net-zero targets, including scope 3 emissions, many oil and gas companies are revaluating their portfolio mix. At the same time, returns on cleantech investments have been much higher than oil and gas. And ESG goals are driving investors away from oil and gas investments. Many large IOCs are accelerating low-carbon investments while significantly reducing oil and gas exploration and investments in new projects. Prior attempts to restructure the portfolio have been largely unsuccessful. What is different this time? What would be the ideal portfolio mix for an energy company? With the recent run-up in oil and gas prices, is it a good strategy to reduce oil/gas investments? What skills will oil and gas companies need to transform themselves into energy companies? What role will financial institutions have in accelerating this transition?