Indian Oil Corporation To Produce F1 Racing Fuel In Next Three Months

IOC, controls about 40 per cent of the fuel market share in India and is set to become the first Indian company and one of the few globally to manufacture fuel used in F1 racing

Shrikant Madhav Vaidya, Chairman, IndianOil, noted that the company expects to obtain certification for its Formula 1 fuel in approximately three months

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The Indian Oil Corporation (IOC) has set its sights on the Grand Prix and will begin manufacturing fuel used in Formula One, or F1, motor racing in the next three months after delivering back-to-back breakthroughs in fuel grades.

According to the company's chairman, Shrikant Madhav Vaidya, the refinery in Paradip, Odisha, would start producing the gasoline used in Formula One racing in three months, as reported by PTI.

IOC, which holds a dominant position in India's fuel market, accounting for approximately 40 per cent of the market share, is set to become the first Indian company and one of the few globally to manufacture fuel used in F1 racing.

Vaidya noted that the company expects to obtain certification for its Formula 1 fuel in approximately three months, following which it will compete with other global majors like Shell to supply it to F1 teams.

IOC To Enter Racing Fuels Segment

F1 fuel primarily consists of high-octane petrol, and its standards are meticulously regulated by the global motorsport governing body, Federation Internationale de l’Automobile (FIA), covering various aspects such as permissible additives and blending agents. In October last year, the IOC facilitated India's entry into a select league of nations by commencing production of highly specialised 'reference' petrol and diesel used for automobile testing.

Among the three suppliers of reference fuel globally, US giant Chevron is one of them. Along with it, the Paradip refinery in Odisha produces 'reference' grade petrol, while the Panipat unit in Haryana manufactures similar quality diesel.  Before this development, Indian automobile manufacturers had to rely on imported reference fuel for testing vehicles, whereas now, IOC supplies them with the same grade of fuel at a significantly lower cost.

Fuel retailers like IOC typically offer two main types of petrol and diesel – regular and premium, differing primarily in octane number. While regular fuel typically has an octane number of 87, premium fuel boasts an octane number of 91. Reference grade fuel comes with a high octane number of 97. This octane number is a unit to gauge the ignition quality of petrol or diesel.

Vaidya highlighted that IOC has three premium fuels in its lineup – 95-octane XP95 petrol, 100-octane XP100 petrol for high-end luxury cars and bikes, and high-performance XtraGreen diesel, known for offering superior fuel economy, reduced noise and emits lesser particulate matter, carbon monoxide, and nitrogen oxides. "XtraGreen diesel is a real game changer fuel. It is catching up fast and now makes up for about 8 per cent of all diesel that IOC sells," he also said.

He added that, for motorcycle racing, IOC has entered the racing fuels segment with its high-octane 'Storm' petrol.

For a period of three years, from 2024 to 2026, the company will serve as the official fuel partner of the Federation Internationale De Motocyclisme (FIM) Asia Road Racing Championship (ARRC), providing 'Storm' petrol for all ARRC racing rounds. All 15 participating nations' motorcycle riders in the FIM Asia Road Racing Championship will get petrol from IOC.

"Our R&D (research and development) in two months will be able to produce Category-1 fuel and in three months Formula 1 fuel," Vaidya said. "Unless we go to F1, the journey is not complete." He confirmed the manufacture of 'Storm' fuel at the company's Koyali refinery in Gujarat.

IOC makes XP100 at its UP's Mathura refinery. Currently, E10 fuel, which contains 10% renewable ethanol, is used in Formula One. The amount of fuel derived from non-fossil sources, such as waste management, alcohol, and algae, will increase to 40% this year and 100% sustainable fuel by 2026.

IOC would also begin producing fuel of a similar grade fuel and then approach automakers competing in F1, he outlined.

In contrast to the FIM Asia Road Racing Championship,  where there is one single fuel supplier for all motorcycle racing, F1 gives teams the option to choose their fuel supplier. For example, Shell provides fuel to Ferrari. Vaidya outlines "This is just the beginning."

"Storm - Ultimate Racing Fuel" offers reduced engine deposits, less exhaust emissions, smoother driving, quicker acceleration, and more power.

It may be used in all classes of motorcycles that need FIM Category 2 race fuels, including endurance, trial, circuit, motocross, supermoto, cross-country, e-bike, and track racing championships. The fuel cost for F1 will be a little more. It would come under high octane premium road fuel with octane thresholds of 95 to 102.