Arvinder Singh Sahney appointed Indian Oil CMD
- In his previous role, Sahney headed the petrochemicals division of the company. He succeeded V. Satish Kumar, the director (marketing) who was handling the additional charge of CMD since 1 September.
New Delhi: Arvinder Singh Sahney was on Wednesday appointed chairman and managing director of state-run Indian Oil Corporation Ltd (IOCL) with immediate effect.
In his previous role, Sahney headed the petrochemicals division of the company. He succeeded V. Satish Kumar, the director (marketing) who was handling the additional charge of CMD since 1 September.
A government order issued on Wednesday said: “The Appointments Committee of the Cabinet (ACC) has approved the proposal of this ministry for appointment of Arvinder Singh Sahney, executive director, IOC, to the post of chairman, IOC, for a period of five years with effect from the date of his assumption of charge of the post, or till the date of his superannuation, or until further order, whichever is the earliest."
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Sahney has the experience of working at five of the company's nine refineries. Aged 54 years, he is a chemical engineer from HBTI, Kanpur, with over three decades of experience in the refinery and petrochemicals sector.
"At Indian Oil, he has been instrumental in commissioning and optimizing key refinery units, including the 15 MMTPA Paradip Refinery, which has significantly bolstered India's refining capacity and energy security. Prior to his appointment as chairman, he headed Indian Oil’s petrochemical vertical, where he was instrumental in the conceptualization of various petrochemical projects, including the upcoming mega petrochemical complex at Paradip, poised to significantly expand Indian Oil’s footprint in the sector," the government statement said.
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Significance of appointment
The appointment comes at a time when state-run oil marketing companies are looking at expanding their footprint in the petrochemicals space.
Sahney also chairs Terra Clean Ltd, a subsidiary of Indian Oil focused on sustainable solutions.
Shares of IOCL closed 2% lower at ₹136.00 apiece on BSE on Wednesday.
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First Published:13 Nov 2024, 10:27 PM IST
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