By Special Correspondent: An Ion has just been released in the Indian Hydrocarbon Sector. This free Ion should be utilized immediately before there is magnetic attachment to any Private Corporate. The Chemistry of strong opposing forces is already very much active. Yes, we are referring to Mr. Srikant Madav Vaidya who relinquished office as Chairman, Indian Oil Corporation on 31st August, after a long and distinguished tenure.
Mr. Vaidya known for his go-getting attitude and practical wisdom is a well-known figure in the domestic & international hydrocarbon domain. His technical as well as man management skills are legendary. During his tenure as head of Indian Oil, he took the organization to great heights. Such talent is often gobbled up by the strong and aggressive private sector which is willing to put in top money for the highly acclaimed Hydrocarbon Sector Professionals.
They would go hammer and tongs after resources of PSEs, be it technical or human. The audacious and highly secretive move to disarm some vital assets of Govt. Oil & Gas PSEs vital intranational Aviation Transportation Grid is the most recent example. The Windfall Taxes have unwittingly brought out in public domain the humongous profit which the Private Oil & Gas players are enjoying without any consecutive and appropriate welfare of the state and its citizens. While the government advisors look the other way, there is good possibility that the common Indian citizen may be in for the consequences of monopolistic and hegemonistic players in future. Not surprisingly, the private operators rather than organically grow their own assets, believe in poaching. They find this to be more convenient and a shortcut to ill-gained riches. Alfred P. Sloan had famously said – “Take my assets – but leave me my organization and in five years I’ll have it all back”. What he meant was the Human Resources.
Mr Vaidya would be an asset to any Oil & Gas Company worldwide today. Being a hands-on Technocrat his demand in domestic and international circuits is pretty high. He has the experience of both the financial and technical know-how of running a successful Oil & Gas Conglomerate. From obtaining long term Loans from Banks, Foreign Exchange niceties to Casting for the best and cheapest Crude for India and its Refining, Transportation including the Products, Maintaining Complex Supply Chains, Retailing and Leading a hard-working professional workforce, in a competitive environment, while adhering to strict government guidelines, comes easy to him. His vast experience of dealing with almost kind of exigencies which play out in the Oil & Gas Sector makes him an ideal head of any successful Corporate. What is more important is that he is clean, has a forthright and goal-oriented approach. His commitment to the Environment (notable being the Cheetah Project, amongst others), Newer Energy Sources (EVs, Ethanol Blending, Hydrogen as fuel) and owing up and motivating the Human Resources for achieving organization goals have been his sterling qualities.
In the current circumstances, it’s difficult to imagine the Indian Oil & Gas vertical without the active involvement of Mr Vaidya. His being in the midst of things and actively participating would be very crucial if India is to attain the rank of third largest economy by 2030. Therefore Mr. Vaidya should be put to nation building as soon as possible. One option which many experts of the Oil & Gas Sector see is heading the West Coast Refinery. The present incumbent has been there for considerable time without making much headway. He is going to push 70s shortly while most industry specialists say 68 years is the maximum ideal age for hanging up the gloves. His style is more soft and accommodative say those who are close to him. Anti-incumbency may also be working against the present incumbent say Oil & Gas experts. Furthermore, he is a through-and-through Marketing person not a Refinery one.
Mr. Vaidya, on the other hand, is a Refinery & Petrochemical expert who has vast technical knowledge of setting up and running Refineries. He has age on his side and is known for his dynamic and robust approach. Being from Maharashtra he has the advantage of being the son of the soil and obviously would be more acceptable. He will have a greater possibility of solving the vexatious locals’ agitation. Mr. Vaidya would know the terrain well and with his excellent rapport with political leaders be able to bridge the gap visibly seen today with the local political forces. To bring the West Coast Refinery to its ultimate fructification Mr. Vaidya seems to be the ideal candidate.
The deal of the century with Aramco got swept away due to delays on part of India. Can India really afford this? The biggest Refinery in the world was at the fingertips of Indians. Of course, a private player may have fished in the troubled waters. Time has come to India to actually covert the opportunity of West Coast Refinery into reality.
A 20 MMTPA Refinery would be like water after wine. In Business, the first mover always has an advantage. Nothing is lost as yet, Saudis can be persuaded back. The Pakistani Refinery does not seem to be practical. What with The Gwader Port and The Turkmenistan–Afghanistan–Pakistan–India (TAPI) Gas Pipeline yet to be safe and fully operational? The West Coast Refinery as was envisaged should now go full on ahead or else be disbanded. No point keeping a setup which is obviously out of its league under the current leadership. It is fortunate that Mr. Vaida has completed his successful tenure as Chairman Indian Oil at the appropriate time. Incidentally, the Government has not been able to find his substitute for Indian Oil till today. He should be persuaded to head the West Coast Refinery Project by the Government.
Cometh the hour cometh the man is the saying. For the West Coast Refinery, he has come as a boon! Just in time management is warranted. The Government of India should grab this god send opportunity with both its arms.
