Sanjiv Singh takes charge as Indian Oil Corp Chairman

Sanjiv Singh on Thursday took charge as Chairman of state-run Indian Oil Corp (IOC) on the retirement of B. Ashok, the country's leading refiner announced here.

"Concurrently, he will also be Chairman of Chennai Petroleum Corporation Ltd and Hindustan Urvarak and Rasayan Ltd, a joint venture company set up to revive the fertiliser plants at Gorakhpur, Sindri and Barauni," an IOC statement said.

Before his elevation as chairman, Singh was Director (Refineries) on the IOC Board since July 2014.

In over 35 years with IOC, Singh spearheaded refinery operations as well as mega greenfield and brownfield projects in refining and petrochemicals, the company said.

"With extensive experience in the refining sector, Singh played a key role in the setting up, commissioning and stabilisation of two of Indian Oil's biggest greenfield refineries at Panipat and Paradip."

"The commissioning of Indian Oil's 11th refinery at Paradip in early 2016, with a capex of Rs 34,555 crore, is his benchmark contribution to the Indian refining sector," the statement added.

Singh takes over with IOC last week posting an impressive 85 per cent jump in net profit for the fourth quarter ended March at Rs 3,721 crore owing to better revenue from operations, even as refining margins grew.

--IANS

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