Indian Oil Corp. senior executives explore collaborations

Media Release
02.11.2016

Indian Oil Corporation senior executives explore collaborations in the Energy Sector in New Zealand

The India New Zealand Business Council [INZBC] again has taken lead in organizing a study tour for senior ranking delegates from India’s Largest Oil & Gas company, the Indian Oil Corporation.

Senior executives were on a study tour to New Zealand (on 25-26 October 2016), as part of their corporate leadership programme, conducted by the Indian Institute of Management Calcutta (IIMC). The participants are senior managers at Dy. General Manager/ Chief Manager level with around 20 years of work experience and came from different functional areas such as R&D, Marketing, Refinery Operations, HR, Finance.

INZBC organized a number of talks with industry leaders and some great Kiwi companies like, EY, Callaghan Innovation, Integration Technologies and Gallagher Fuel systems.

Tax Executive Directors Sanjay Kumar and Raymond Yee provided the delegates with an overview of the New Zealand tax system, the New Zealand oil and gas tax regime and discussed upcoming international tax developments. EY Corporate and Commercial Law Leader, Sinead Hart provided the delegates with insights on investing into New Zealand, structuring operations and the regulatory regime for oil, gas and mineral exploration. The delegates showed a great interest and contributed to an engaging discussion about the New Zealand tax system and economy.

Sanjay commented that EY New Zealand was delighted to host the delegates from the Indian Oil Corporation on the first day of their New Zealand visit.
“At EY, the delegates received an update on the New Zealand economy and had the opportunity to hear from the EY team about the various aspects of doing business in New Zealand”, he said.

Chris Thomson, Energy Tech Sector Lead at Callaghan Innovation also interacted with the delegation. He gave a talk on Callaghan Innovation’s role and business support services, their recent initiatives in the energy sector and reference to NZ research groups and technology companies working in the NZ oil and gas sector. His talk was a great eye opened for the delegation, on the areas of research happening in NZ in this sector.

Chris commented, “Callaghan Innovation greatly appreciated the opportunity to host the delegation from the Indian Oil Corporation, learn about the company, and discuss opportunities for future collaboration with NZ energy technology companies and research organisations”.

NZTE had organized a panel of three Kiwi companies in the Energy sector, for the delegation to meet. They included John Gorman, Director, Greenstage Limited; Chris Deere, CEO, Integration Technologies Limited; Fred Royce, International Business Development Manager, Gallagher Fuel systems. They all spoke about their respective technologies and new innovations that are being used commercially.

Maria Gray, Market Manager, India Middle East and Africa, NZTE was optimistic about the outcomes of these series of meetings. She said, “Hosting the delegation from India Oil Corporation was a great opportunity to allow NZ businesses with complementary products/services to present to a powerful group. There was a lot of interest in the NZ products that were showcased and we hope to see relationships grow out of initial interactions, towards an outcome of business deals for the NZ companies”.

IIM-C, who were the main organisers were very pleased with the outcome of the delegation and hinted at having more such corporate tours.

Mr. Ashok Banerjee, Professor (Finance & Control), IIM-C appreciated the work done by INZBC. He said, “We are thankful to INZBC for organising the meetings for the delegation from Indian Oil Corporation. The variety of companies that we visited during these two days was impressive. The products of some of the small and innovative companies in New Zealand have drawn the attention of the delegation.”

Mr. Wenceslaus Anthony, head of government relations said, “we are thankful to the Indian High Commission, for reposing their faith in us for managing this study tour. Interactions with such high level delegations help in building the brand NZ Inc. and increases opportunities for tie-ups with Kiwi companies in the future.”

He also commented that INZBC prides itself in talking a leadership role in the industry and this was one such endeavor. The success of this mission, will mean many more such delegations coming to New Zealand.

“INZBC also wishes to thank IIM-C and all the hosts of the 2 day talks, for contributing richly to the delegations experiences’.

Prince Vijaykumar from the Executive Committee was the Coordinator of the study tour.

Indian Oil Corporation (Indian Oil) is India's largest commercial enterprise, with a sales turnover of Rs. 3,99,601 crores (US$ 61 billion) and profits of Rs. 10,399 crores (US$ 1,589 million) for the year 2015-16. Indian Oil is ranked 161st among the world's largest corporates (and first among Indian enterprises) in the prestigious Fortune ‘Global 500’ listing for the year 2016.

The Indian Institute of Management Calcutta (IIMC) is India’s leading business school located in Joka, Kolkata (Calcutta), West Bengal, India. It is consistently ranked as one of the leading business schools in India and the Asia Pacific region. IIM Calcutta is a fully autonomous institution and offers several postgraduate and doctoral programmes in management, as well as a bouquet of executive education programmes. In addition to its main academic programmes, IIM-C is also engaged in research, consultancy, seminars, academic conferences and research publications.

www.inzbc.org

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