New Delhi, May 22: IndianOil Refineries have secured a significant upgrade in their international risk rating, moving from “Average” to “Above Average,” reinforcing the company’s standing in industrial safety, operational reliability and asset integrity.
The upgraded rating places IndianOil’s refining network in the second-highest global risk category and marks a major milestone for India’s downstream energy sector.
The recognition followed an extensive annual risk assessment conducted by a team of international risk engineers led by global expert Wim Matthys.
The comprehensive evaluation covered IndianOil’s key refining assets at Gujarat, Haldia and Paradip, with the inspection focusing on operational resilience, safety systems and risk management protocols.
According to the company, these risk assessments play a critical role in supporting IndianOil’s mega insurance programme, one of the largest corporate insurance placements in the country.
The international engineering team commended IndianOil’s refinery operations for fostering a strong and evolving safety culture supported by structured operational systems.
IndianOil said the improved risk profile was driven by the implementation of Process Safety Management (PSM) frameworks and the deployment of digital dashboards for real-time monitoring of critical safety indicators.
Highlighting the maturity of its risk management systems, the company said the global auditors issued no new corporate recommendations during the current inspection cycle.
The assessment findings were reviewed during a Risk Inspection Close-out Meeting held at the Refineries Headquarters, attended by senior leadership and teams from Health, Safety and Environment (HSE), Finance, Technical Services, and Maintenance and Inspection divisions.
IndianOil said the recommendations and insights shared by international risk experts would support the company’s ongoing efforts to strengthen industrial systems, optimise operational processes and enhance safety and reliability standards.
With the latest international validation across its major refining centres, IndianOil said the rating upgrade reflects measurable progress in proactive safety management and reinforces its position as a globally competitive refining and energy enterprise.
