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RIL appoints former IOC chairman Sanjiv Singh as group president

Singh's appointment comes at a time when RIL is in the process of carving out the O2C business into a separate unit - Reliance O2C Ltd - for a possible sale of a 20 per cent stake to Saudi Aramco for $15 billion

twitter-logoBusinessToday.In | August 26, 2020 | Updated 23:59 IST
RIL appoints former IOC chairman Sanjiv Singh as group president
Sanjiv Singh

Former Indian Oil Corporation (IOC) chairman Sanjiv Singh has joined the leadership team at oil-to-chemicals (O2C) business of Reliance Industries as Group President. He will look after the group manufacturing services (GMS).

In a communication to the company employees, RIL Executive Director Hital R Meswani informed that Singh will work closely with him and the O2C leadership team to assume responsibility for GMS areas in a phased manner over the next 3-4 months.

Reliance Industries' O2C business includes twin oil refineries at Jamnagar in Gujarat, petrochemical plants, 51 per cent of fuel retail and aviation fuel venture, and bulk wholesale marketing businesses. Company's upstream oil and gas exploration assets that include 66.6 per cent interest in the eastern offshore KG-D6 block do not fall under this vertical.

Singh's appointment comes at a time when RIL is in the process of carving out the O2C business into a separate unit by the name of Reliance O2C Ltd, for a possible sale of a 20 per cent stake to Saudi Aramco for $15 billion.

Earlier this year, Reliance had hired former IOC chairman Sarthak Behuria as a senior advisor to help shape the firm's fuel retail business.

As per the company's latest annual report, the refining and marketing business of RIL is headed by Meswani, while Surinder Sani is the Group President of the Refining Business. Par Singh is the head of Manufacturing at RIL. PK Kapil, one of the two non-promoter family directors on the board of RIL, is the Executive Director of the division.

Singh, a chemical engineer from IIT-Roorkee with a diploma in management, was the chairman of IOC for three years. Prior to that he was Director Refineries at the company and oversaw the construction of India's newest oil refinery at Paradip in Odisha.

"During his tenure at IOC, Sanjiv was instrumental in setting up and commissioning of two of IOC's biggest greenfield refineries at Panipat (in Haryana) and Paradip," Meswani wrote in the organisational statement. "Sanjiv served as the Executive Director of Paradip Refinery Project and was head of IOC's Panipat Refinery."

{With PTI inputs}

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