IndianOil poised to become a prominent F1 fuel producer

11 Mar 2024 , 09:30 AM

After delivering back-to-back fuel grade advancements, Indian Oil Corporation (IOC) has set its sights on the Grand Prix, announcing that it would begin manufacturing gasoline for adrenaline-pumping Formula One (F1) motor racing within the next three months.

The firm’s refinery in Paradip, Odisha, will supply the fuel used in Formula One racing in three months, according to its chairman, Shrikant Madhav Vaidya.

IOC, the country’s largest oil business with over 40% of the gasoline market, will be the first Indian company and one of just a few in the world to provide fuel for Formula One.

Vaidya stated that the business intends to get its Formula 1 gasoline authorized within three months, following which it would compete with other global companies such as Shell to provide it to F1 teams.

F1 fuel is high-octane petrol, and the regulations are strictly enforced by the world motorsport governing body Federation Internationale de l’Automobile (FIA) on a variety of levels, including allowed additives and blending agents.

In October of last year, IOC assisted India in joining a restricted group of nations by beginning production of highly specialized ‘ reference’ petrol and diesel needed for vehicle testing.

There are only three global providers of reference fuels, including the US oil behemoth Chevron.

Prior to this, Indian automakers had to use foreign reference gasoline to test vehicles and motorbikes. IOC now supplies them with the same grade fuel at a significantly lower cost.

Fuel merchants such as IOC sell petrol and diesel in two varieties: ordinary and premium, through their fuel station network. The greatest difference between regular and premium gasoline is the octane level. Regular fuel has an octane value of 87, whereas premium fuel has an octane level of 91. Reference grade gasoline has a 97 octane rating.

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