Indian Oil Launches STORM-X: India’s First High-Octane Racing Fuel

Indian Oil Corporation (IOC) announced that it has commenced production of racing fuel and dispatched its first consignment. The Paradip refinery in Odisha has begun producing STORM-X, a high-octane petrol specifically designed for racing cars.

IOC Director (Marketing) V. Satish Kumar announced the dispatch of the first STORM-X consignment at an event on Saturday. Indian Oil is the largest oil company in India, controlling approximately 40% of the fuel market. It is the first Indian firm and one of only a few worldwide to produce fuel for Formula 1 racing.

The launch of this premium racing fuel is part of Indian Oil’s commitment to innovation and excellence. STORM-X was developed at the IOC Research & Development Centre in Faridabad and produced at the advanced Paradip Refinery. The fuel combines high-octane gasoline with sustainable components, including 2G Ethanol from the Panipat Refinery. It is certified by Bureau Veritas, Dubai, and meets FIA (Federation Internationale de l’Automobile) 2024 specifications.

Indian Oil has partnered with the Madras Motor Sports Club to supply STORM-X for the third and fourth rounds of the Indian National Racing Championship at the Madras International Circuit in the 2024 season. The company stated that during the launch ceremony, 55 barrels were dispatched for the third round.

The Paradip Refinery’s technological capabilities were crucial in developing this premium racing fuel, underscoring IOC’s commitment to innovation, sustainability, and customer satisfaction in driving India’s growth.

Formula 1 fuel is a high-octane petrol, heavily regulated by the FIA regarding permissible additives and blending agents. Last October, IOC also began producing specialised ‘reference’ petrol and diesel for automotive testing, placing India among a select group of nations. Previously, Indian manufacturers had to rely on imported reference fuels; now, IOC offers these grades at a more affordable price.

Fuel retailers like IOC provide primarily two types of petrol and diesel: regular and premium. The key difference lies in the octane rating, with regular fuel at 87 octane and premium fuel at 91. Reference grade fuel has an octane number of 97.

IOC offers three premium fuels: 95-octane XP95, 100-octane XP100 for high-end vehicles, and high-performance XtraGreen diesel, which enhances fuel economy and reduces emissions.

Additionally, IOC 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-X petrol for all race rounds involving participants from 15 countries.

Currently, F1 uses E10 fuel, containing 10% renewable ethanol, with plans to increase the renewable content to 40% this year and achieve 100% sustainable fuel by 2026.

On July 15, 2024, the share price of Indian Oil Corporation Ltd opened at ₹167.50, touching the day’s high at ₹169.64, as of 10:15 AM on the NSE.

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