Arvinder Singh Sahney has been appointed as the chairman and managing director of Indian Oil Corporation Ltd (IOCL) with immediate effect, according to a recent official announcement. Previously heading the petrochemicals division of IOCL, Sahney takes over from V. Satish Kumar, who had been holding the additional CMD charge since September 1 as director (marketing).
The Appointments Committee of the Cabinet (ACC) has approved Sahney’s five-year tenure, starting from the date he assumes office or until superannuation or further orders, whichever is earlier. Sahney, 54, brings a wealth of experience, having worked at five out of the company’s nine refineries. He holds a chemical engineering degree from HBTI, Kanpur, and has spent over three decades in the refinery and petrochemicals industry.
Sahney’s impact at Indian Oil includes his pivotal role in commissioning and optimizing crucial refinery units, notably the 15 MMTPA Paradip Refinery, which has enhanced India’s refining capacity and energy security. Leading the petrochemical vertical, he also spearheaded significant projects like the forthcoming mega petrochemical complex at Paradip, set to strengthen Indian Oil’s presence in the sector.
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His appointment comes as state-run oil marketing firms focus on expanding their presence in petrochemicals. Additionally, Sahney chairs Terra Clean Ltd, an Indian Oil subsidiary dedicated to sustainable solutions. On the stock market, IOCL shares ended the day 2% lower, closing at ₹136.00 on the BSE.
