Indian Oil Corp appoints Arvinder Singh Sahney as chairman

Indian Oil Corporation announced the appointment of Arvinder Singh Sahney as the Chairman of the company. The appointment came into effect on November 13 as the additional charge of chairman entrusted to V Satish Kumar, came to an end.

Sahney, 54, has over three decades of expertise in the refinery and petrochemical sector. He has worked at five of Indian Oil’s nine refineries. 

The Chemical Engineer from HBTI, Kanpur, has been instrumental in commissioning and optimising key refinery units, including the 15 MMTPA Paradip refinery. The Paradip refinery has significantly increased India’s refining capacity and energy security. 

Before being appointed Chairman of Indian Oil, Sahney headed the corporation’s petrochemical vertical, where he was instrumental in the conceptualisation of various petrochemical projects, including the upcoming mega petrochemical complex at Paradip. This complex is poised to significantly expand Indian Oil’s footprint in the sector.

“A firm believer in people-centric leadership, Sahney has championed Innovation and Digital transformation as drivers of growth and sustainability. His strategic vision and operational excellence have positioned Indian Oil as a global energy major, well-equipped to meet the evolving energy needs of the nation,” said the corporation. 

Sahney has also chairs Terra Clean Ltd, a wholly-owned subsidiary of Indian Oil focused on sustainable solutions, and is a director at IndOil Montney, Canada, a wholly-owned subsidiary of Indian Oil. 

IOC operates under the administrative control of the Ministry of Petroleum and Natural Gas in India, headed by Hardeep Singh Puri, the Minister of Petroleum and Natural Gas. 

This ministry oversees various oil and gas companies in the country, including IOC, and is responsible for policies and regulations related to petroleum, natural gas, and related industries. The ministry’s role includes managing resources, regulating fuel prices, and ensuring energy security in India through entities like IOC.

India, the world's third largest crude oil importer and consumer, is expected to rely on fossil fuels until at least 2040 and is positioning itself as a refining hub, Puri told Reuters on Tuesday. While global refining centers are downsizing as energy transition progresses at an unpredictable pace, India's rising daily crude utilization means it will rely on fossil fuels until at least 2040, Puri said at the sidelines of a refining conference in Bengaluru.