21-03-2012

IndianOil wins prestigious Hart Energy award

IndianOil, India’s flagship petroleum company has won the prestigious Hart Energy Award for its contributions towards a cleaner environment. Along with LyondellBasell, IndianOil has been announced as the winner in the Refining & Energy Company of the Year awards category at the World Refining & FUEL conference, "Unconventional Feedstocks & Fuels Mandates: Operating Amid Change" held recently in San Diego.

Hart Energy Sr. Vice President E.Kristine Klayers speaking on the occasion said, “For 25 years, we have identified companies which have excelled in both global energy and refining. This year, IndianOil and LyondellBasell exemplify the traditions that are embodied in this prestigious award." Dr. RK Malhotra, accepting the award on behalf of the Corporation, said that some of the company’s R&D efforts, such as its innovative refining catalyst technology, have made significant differences and are a result of IndianOil’s efforts in consistently pursuing excellence in innovation and business processes.

The two companies were recognized for their corporate achievement in three primary categories of Cleaner Environment, for producing cleaner, higher-quality gasoline and diesel fuel; Investment and Corporate Growth, with the recipients operating with the highest international refining standards and innovative use of resources in diverse environments as well as vision and ability to chart future changes.

PetroChina, Saudi Aramco, Chevron and Pemex are some of the previous winners of this prestigious energy award. Hart Energy is a Houston-based information provider to the world’s energy industry. The company’s market–leading publications include the Oil and Gas Investor, E&P, FUEL and Midstream Business.

IndianOil, ranked 98th in the Fortune ‘Global 500’ list has been a forerunner in the development of alternative sources of energy. IndianOil’s R&D Centre has made significant contributions to the development of ethanol-blended petrol, production of bio-diesel from various non-edible oils and the commissioning of hydrogen-CNG fuel dispensing station The R&D division of the Corporation is the country’s foremost research center for refinery process technologies, lubricants, fuel additives, engine testing, material and environmental sciences, pipeline transportation and alternative fuels.