After delivering back-to-back innovations in fuel grades, Indian Oil Corporation (IOC) has now set its sights on the Grand Prix by producing fuel used in Formula One (F1) racing. The firm’s Paradip refinery in Odisha is set to start producing the high-octane petrol used in F1 car racing within the next three months. This move will make IOC the first Indian company and one of the few global companies to supply fuel for F1 racing. IOC expects to get its Formula 1 fuel certified in approximately three months, after which it will compete with major global players like Shell to supply it to F1 teams.
F1 fuel is essentially high-octane petrol, and its standards are heavily regulated by the Federation Internationale de l’Automobile (FIA), the global motor sport governing body. The criteria cover various aspects, including permissible additives and blending agents.
IOC had previously helped India join a select league of nations by producing highly specialised ‘reference’ petrol and diesel for testing automobiles. Before, Indian automobile manufacturers had to rely on imported reference fuel for testing cars and motorcycles. Now, IOC is offering the same grade fuel at a significantly lower cost.
In addition to regular and premium fuels, IOC already has three premium fuels: 95-Octane XP95 petrol, 100-Octane XP100 petrol used in high-end luxury cars and bikes, and the high-performance XtraGreen diesel. XtraGreen diesel offers higher fuel economy, reduced noise, and emits fewer particulate matter, carbon monoxide, and nitrogen oxides. XtraGreen diesel already constitutes about 8% of all diesel sold by IOC.
Furthermore, IOC has entered the racing fuels segment with its high-octane ‘Storm’ petrol for motorcycle racing. The company will serve as the official fuel partner for the Federation Internationale De Motocyclisme (FIM) Asia Road Racing Championship (ARRC) from 2024 to 2026, supplying ‘Storm’ petrol across all ARRC race rounds. IOC will supply fuel to motorcyclists from 15 countries participating in the FIM Asia Road Racing Championship.
IOC plans to manufacture F1-grade fuel and pitch it to automobile manufacturers participating in F1 racing. Unlike the FIM Asia Road Racing Championship, where there is one single fuel supplier for all motorcycles racing, F1 allows teams to select their own fuel supplier. For instance, Shell is the fuel supplier to Ferrari.
Indian Oil Corporation’s foray into producing fuel for F1 racing marks a significant milestone for the company. With its commitment to innovation and high-quality fuel production, IOC is set to further establish itself as a global player in the energy sector.
