2024-11-13 22:27:40 :
New Delhi: Arvinder Singh Sahney was appointed chairman and managing director of state-run Indian Oil Corporation of China (IOCL) on Wednesday with immediate effect.
Sahney previously served as head of the company’s petrochemicals division. He takes over from Director (Marketing) V. Satish Kumar, who was in charge of additional charge of CMD from September 1.
“The Appointments Committee of the Cabinet (ACC) has approved the ministry’s proposal to appoint Arvinder Singh Sahney, Executive Director of the International Olympic Committee, as President of the International Olympic Committee,” a government order issued on Wednesday said. office for a term of five years from the date of his assumption of the office, or until the date of his pension, or until further order, whichever is earliest.”
Sahney has experience working at five of the company’s nine refineries. Aged 54, he is a chemical engineer at HBTI, Kanpur, with over three decades of experience in the refining and petrochemical sector.
“At Indian Oil Corporation, he was instrumental in commissioning and optimization of key refineries, including the 15 MMTPA Paradip Refinery, which significantly enhanced India’s refining capabilities and energy security. Before being appointed Chairman Previously, he was responsible for Indian Oil’s petrochemicals 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 of the industry,” the government statement said.
Significance of appointment
The appointment comes as the state-owned oil marketing company seeks to expand its presence in the petrochemical sector.
Sahney also serves as Chairman of Terra Clean Ltd, a subsidiary of Indian Oil Corporation that focuses on sustainable solutions.
IOCL shares closed down 2% $The BSE price was 136.00 on Wednesday.
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