Indian Oil set to join the exclusive club of Formula One!

The circus of Formula One might not be racing in India but the Indian representation in the pinnacle of Motorsports is not lacking – Indian Oil corporation which controls roughly 40% of the fuel market share in India has expressed a strong desire to join the Formula One Grid as a fuel supplier.

The Fuel used in Formula One cars is quite different to our regular fuel, it comprises renewable ethanol and other non-fossil derived substances to achieve its zero net carbon goal, Formula one aims to achieve and use 100% renewable fuel in the coming years that is when the new engine regulations are to be introduced.

Amidst this IOC an Indian company is holding high ambitions to join Formula One and become part of the elite club which comprises Shell, ExxonMobil, Petronas and Castrol, companies who have been manufacturing fuel for F1 teams for a long while.

IOC chairman Shrikant Vaidya said “After delivering back-to-back innovations in fuel grades, Indian Oil Corporation (IOC) has now set sight on the Grand Prix and will in the next three months start producing fuel used in adrenaline-pumping Formula One or F1, motor racing. The firm’s refinery at Paradip in Odisha will in three months produce the petrol used in F1 car racing.”

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Shrikant Vaidya also added that the company expects to get its Formula One Fuel certified in the next three months and after the certification it will compete against the more established global players to sell its fuel on the Formula Grid.

Fuel used in Formula One is heavily regulated by the sport’s governing body Federation Internationale de l’Automobile (FIA) and any manufacturer that wants to join f1 in any capacity shall do so only after its approval.

Formula One has been riding on the high wave of popularity since 2021 thanks to its web series ‘Drive To Survive’ which has been successful in garnering new fans across the globe this rapid growth in popularity has seen many renowned manufacturers and well-established names express their desire to join the ever-growing wagon of f1 and to see an Indian company showing interest to join such an elusive group of companies, especially in a sport where Indian Representation is fairly mediocre- especially since the departure of Force India.

And this is not IOC’s first rodeo in the field of high-performance motorsports Indian Oil is an official fuel partner for the FIM Asia Road Racing Championship from 2024 to 2026.

What do you think the chances are for the IOC to become a Fuel partner for any of the 10 Teams in Formula One?