30 minutes with Mr. Arijit Basu

1. With Veedol’s rich history spanning over a century, how do you balance preserving this legacy with the need for innovation and adaptation in today's rapidly evolving lubricants market, especially within the oil and gas sector?

At Veedol, we take immense pride in our century-old legacy while continuously evolving to meet the demands of the modern lubricants market. Our approach balances heritage with innovation by leveraging advanced R&D, sustainable formulations, and cutting-edge technology to develop high-performance lubricants. In the automotive and industrial lubricants sector, we focus on enhancing efficiency, extending equipment life, and reducing environmental impact through next-generation products. By staying agile and customer-focused, we ensure that Veedol remains a trusted name, not just for its history but for its forward-thinking solutions in an ever-changing industry.

2. What key lessons have you learned in your leadership career, especially in construction chemicals and lubricants, that are transferable and particularly relevant to driving sustainability initiatives in the lubricant industry?

Optimizing formulations for performance and environmental impact, adopting circular economy principles, and engaging stakeholders for broader adoption of sustainable solutions. These key lessons are directly transferable to the lubricant industry, where developing high-performance lubricants and enhancing recyclability are critical to a sustainable future.

3. The theme of this Maintonia issue is "Lubrication | Sustainability in Oil and Gas." How does Veedol view the role of lubrication in achieving sustainability goals within this sector? What are the biggest challenges and opportunities you see?

Veedol sees lubrication as a key enabler of sustainability in this sector by improving energy efficiency, reducing waste oil generation, and extending equipment life. Advanced lubricant formulations help lower emissions and enhance operational efficiency. The lubricant industry has opportunities to develop high-performance, biodegradable lubricants that support a circular economy. However, challenges remain in ensuring the availability and consistency of high-quality recycled base oils and driving the adoption of sustainable practices.

4. Is Veedol investing in technologies or innovations to develop more sustainable lubricant solutions for the oil and gas industry? Could you describe a couple of them?

Veedol is committed to developing next-generation lubricant solutions that enhance reliability and sustainability. We invest approximately 0.5-1% of our total revenue annually in R&D, which is in line with global major lubricant brands for the development of high-performance lubricants and greases that improve operational efficiency and reduce lubricant consumption. This leads to less waste oil generation and improved sustainability. Beyond product development, we also support customers in optimizing oil drain intervals and regreasing schedules through condition monitoring, maintenance training, and best practices for lubricant handling, storage, and disposal. These initiatives contribute to more sustainable operations.

5. Beyond product development, what other aspects of Veedol's operations are focused on sustainability, such as manufacturing processes, supply chain management, or waste reduction?

Veedol is committed to sustainability not just through product innovation but also across its manufacturing and supply chain operations. We utilize captive solar power at three of our manufacturing plants, reducing our dependence on conventional energy sources and lowering carbon emissions. Additionally, one of our units operates on Piped Natural Gas (PNG), which is a cleaner alternative to conventional fuels. In packaging, we are committed to circular economy principles by incorporating 30-50% post-consumer recycled (PCR) material in our select plastic containers, reducing plastic waste and environmental impact.

6. The lubricants market is increasingly competitive. How does Veedol differentiate itself, particularly in the context of offering sustainable solutions to the oil and gas sector?

Yes, the lubricants market has become highly competitive, and this trend will only increase in the coming years. At Veedol, we are exploring the use of innovative, bio-friendly molecules that have the potential to enhance performance while improving sustainability and cost efficiency. At the same time, we are leveraging high-quality recycled base oils in select formulations, ensuring resource optimization without compromising on quality. By continuously investing in research and sustainable practices, Veedol is committed to delivering solutions that meet evolving needs.

7. What are the key trends you foresee shaping the future of the lubricant industry, especially regarding sustainability and its impact on the oil and gas sector?

The lubricant industry has evolved rapidly, driven by advancements in powertrain technologies and stricter environmental regulations. The shift towards EVs, hybrids, bi-fuel engines, hydrogen, and LNG-powered vehicles is influencing lubricant development to meet specific performance demands while enhancing sustainability. Stricter emission norms are pushing the demand for low-viscosity synthetic oils with extended drain intervals to improve fuel efficiency. Moreover, many developed countries now mandate the usage of bio-lubricants for agriculture, forestry, and marine applications, aligning with global net-zero policies. As sustainability is gaining momentum, the industry is focusing on bio-based, biodegradable, and recyclable lubricants to minimize environmental impact.