Shrikant Madhav Vaidya

Indian Oil Corporation Limited


Mr. Shrikant Madhav Vaidya heads Indian Oil Corporation Ltd., India’s largest oil refiner and fuel retailer and the top ranked Public Sector company in the Fortune India list. He took over the reins of the ‘Fortune 500’ energy company in July this year, at a time when the world and the businesses have been witnessing widespread turbulence and transformation. A Chemical Engineer, Mr. Vaidya has been with IndianOil for nearly 34 years now. He’s a passionate refiner who has worked from the drawing board to the commissioning of a world scale Cracker plant – the Panipat Naphtha Cracker Complex. He is counted among the select technocrats in the Indian oil & gas industry proficient in the full spectrum of refinery-petrochemicals integration. Mr. Vaidya concurs with IndianOil’s national mandate of playing a frontline role in the country’s energy security. Under his leadership, IndianOil is looking at fortifying its core strength and strengthening petrochemicals intensity, while adding greener energy offerings, including renewables, for its large, diverse customer base. He’s also an ardent believer in the power of innovation, leveraging technology and R&D prowess for driving growth. A people’s person, Mr. S M Vaidya believes in motivating and engaging with the teams and remains a firm votary of responsible growth and environmental stewardship for a better world.

Additional Responsibilities:

Mr. Vaidya is the Non-Executive Chairman of Chennai Petroleum Corporation Ltd. (a Subsidiary of IndianOil), Ratnagiri Refinery & Petrochemicals Ltd., Indian Oiltanking Ltd. & Hindustan Urvarak & Rasayan Ltd. (Joint Venture Companies). He is also a Non-Executive Director on the Board of Petronet LNG Ltd. (a Joint Venture Company).

SESSIONS WITH Shrikant Madhav Vaidya

Wednesday, 28 October

  • 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?