Guiding Indian Oils’ Success: Sanjiv Singh
Guiding Indian Oils’ Success: Sanjiv Singh
Purnima Narang || The CEO Magazine
Indian Oil Corporation Limited (IOCL) commonly known as Indian Oil is an Indian state government-owned Oil and Gas Company headquartered in New Delhi. India’s largest oil company, Indian Oil earned the highest net profit of INR 21,346 crores for the financial year 2017-18. Mr Sanjiv Singh is the chairman of the largest commercial enterprise and the highest-ranked Fortune ‘Global 500’ integrated energy major in India.
Leading the 60-year-old company founded on 30 June 1959, Sanjiv Singh, chairman of Indian Oil ensures the profitability of various divisions of the company including refineries division, pipeline division, marketing division, R&D division, petrochemicals division, Exploration and Production (E&P) Division, along with Explosives and Cryogenics division.
The brand accounts for nearly half of India’s petroleum products market share, 35% national refinery capacity (together with its subsidiary Chennai Petroleum Corporation Ltd. or CPCL) and 71% downstream sector pipelines through capacity. As a chairman of the Board, Mr Sanjiv also heads Chennai Petroleum Corporation Ltd, with its two refineries, Hindustan Urvarak & Rasayan Ltd., a joint venture to set up 3 world-scale fertiliser plants.
He also leads the IoT Infrastructure & Energy devices Ltd. and is the chairman of the Ratna Ratnagiri Refinery & Petrochemicals Ltd., a joint venture of Indian Oil Corporation Limited, Bharat Petroleum Corporation Limited and Hindustan Petroleum Corporation Ltd.
He plays as an integral part of the policy decisions of the prestigious Scientific Advisory Committee. Sanjiv Singh is a significant part of national think tanks and bodies of the Ministry of Petroleum & Natural Gas, Govt of India, like the Centre for High Technology, Petroleum Conservation Research Association, and Central Pollution Control Board.
Rajiv Singh joined the company in 1981 and served in various roles in the corporation for over 35 years. Before taking over as Chairman, Mr Singh held the position of Director of Refineries at Indian Oil heading its entire refineries and petrochemicals value chain comprising nine refineries and petrochemicals complexes in different parts of the country.
A chemical engineer from IIT-Roorkee with a Diploma in Management, Sanjiv Singh’s total compensation at Indian Oil is INR 9,113,710 as the Chairman of the Board and Whole- Time Director of Indian Oil.
He was felicitated with the Fellowship Award-2016 by the Centre for Excellence in Project Management (CEPM) acknowledging his sterling contribution in the hydrocarbons space. He has also been awarded for his outstanding contribution to the field of fuel science by the Central Institute of Mining and Fuel research. The man has also been recognised for his outstanding contribution to the field of fuel science conferred at the International Conference on ‘NexGen Technologies’ for Mining and Fuel Industries hosted by CSIR-Central Institute of Mining and Fuel Research.
Ensuring Bright Future of the Company
Sanjiv Singh promoted the clean and green fuels and has spearheaded India’s LPG transformation programme, including Pradhan Mantri Ujjwala Yojana and Smokeless villages. He guided the on-schedule roll-out of the BS-IV green fuels across the country in 2017; Sanjiv Singh has set a frenetic pace for Indian Oil to meet the tough deadline of introducing superior BS-VI grade fuels in phases by April 2020.
Under his leadership, Indian oil has been carrying out capital investment projects of about US $15 Billion including various brown-field capacity expansions and modernisation of refineries and petrochemicals complexes; extension of pipeline networks; up-gradation and automation of 26000+ fuel stations, bulk storage terminals and LPG bottling plants. Also, the leader is focused on ensuring growth and expansion of the company with plans of scaling up the aviation fuel business acquisition of oil & gas assets; expansion of overseas business; and diversification of Indian Oil’s energy portfolio into renewable energy, including waste-to-fuel and waste-to-power projects.
Related Links: Read Now! Larry Page the CEO of Alphabet