Indian Oil Corp - the country’s largest fuel retailer- plans to supply fuel for cars in the Formula 1 championship. “We expect to manufacture the fuel for Formula 1 cars and obtain the required certifications within three months,” Indian Oil Chairman Shrikant Madhav Vaidya said.
Global oil giants such as Petronas, Shell, ExxonMobil and Castrol are the major suppliers of fuel for the players in the most prestigious auto racing championship. Once the fuel gets certified, Indian Oil will compete with these major oil companies to get fuel supply contracts to individual teams in the race, Vaidya told reporters on the sidelines of an event in Delhi.
Last week, Indian Oil launched a high-octane fuel customised for superbike racing. Indian Oil is the official fuel partner for the Asia Road Racing Championship from 2024 to 2026. It will supply premium gasoline STORM-Ultimate Racing Fuel to all the rounds of the Asia Road Racing Championship.
Formula 1 cars are generally considered to be the fastest on race tracks. They use premium gasoline fuel with an octane rating between 87 and 102, optimised for peak performance. Formula 1 will have ten teams and around 24 races. This year’s Formula 1 started on March 2 in Bahrain and will finish on December 8 in Abu Dhabi.
The Federation Internationale de l’Automobile regulates the fuel used in the championship. Indian Oil’s fuel for Formula 1 will have an octane rating of more than 95 and it will be manufactured at its Paradip refinery in Odhisa, Vaidya said.
By entering Formula 1, Vaidya noted that Indian Oil is trying to show its strength in its diverse and niche product range.