Former Indian Oil Corp (IOC) chairman Sanjiv Singh has joined Reliance Industries Ltd as Group President for billionaire Mukesh Ambani-run agency’s oil-to-chemicals enterprise. A communication by RIL Government Director Hital R Meswani to the corporate staff stated Singh, who superannuated from India’s largest oil agency on June 30, will likely be a member of the oil-to-chemicals(O2C) enterprise management crew.
RIL’s O2C enterprise consists of the group’s twin oil refineries at Jamnagar in Gujarat, petrochemical crops, 51 per cent of gasoline retail and aviation gasoline enterprise, and bulk wholesale advertising companies.
It doesn’t embrace the agency’s upstream oil and gasoline exploration property that embrace 66.6 per cent curiosity within the japanese offshore KG-D6 block.
RIL is within the technique of carving out the O2C enterprise right into a separate unit, known as Reliance O2C Ltd, for a attainable sale of a 20 per cent curiosity to Saudi Aramco for an asking of USD 15 billion.
The agency had earlier this yr employed former IOC chairman Sarthak Behuria, 68, as a senior advisor to assist form the agency’s gasoline retail enterprise.
“Sanjiv will lead and drive the Group manufacturing providers (GMS) organisation which is the spine of our oil-to-chemicals enterprise,” Meswani wrote.
The refining and advertising enterprise of RIL is headed by Meswani, and Surinder Sani is the Group President of the Refining Enterprise, based on the corporate’s newest annual report. Par Singh is the top of Manufacturing at RIL. PK Kapil, one of many two non-promoter household administrators on the board of RIL, is the Government Director of the division.
“Sanjiv will likely be working intently with the undersigned and the O2C management crew to imagine duty for GMS areas in a phased method over the following 3-Four months,” Meswani wrote.
A chemical engineer from IIT-Roorkee with a diploma in administration, Singh was the chairman of IOC for 3 years. Previous to that he was Director Refineries on the firm and oversaw the development of India’s latest oil refinery at Paradip in Odisha.
“Throughout his tenure at IOC, Sanjiv was instrumental in establishing and commissioning of two of IOC’s largest greenfield refineries at Panipat (in Haryana) and Paradip,” Meswani wrote. “Sanjiv served because the Government Director of Paradip Refinery Mission and was head of IOC’s Panipat Refinery.”