New Delhi: India's top oil firm IndianOil has started producing fuel used in adrenaline-pumping motor racing and dispatched its maiden consignment.

The firm's refinery at Paradip in Odisha has started producing STORM-X - a high-octane petrol specifically formulated for racing cars, the firm said in a statement.

Indian Oil Corporation (IOC) Director (Marketing) V Satish Kumar flagged the dispatch of the maiden consignment of STORM-X at an event on Saturday, it added.

IOC, the country's largest oil firm controlling roughly 40 per cent of fuel market share, will be the first Indian company and only a handful globally to produce fuel used in F1 racing.

The launch of premium racing fuel for top-end motor racing events across the country and in the international circuit is part of the firm's pursuit of innovation and excellence, the statement said.

"This premium race fuel was developed by the IOC Research & Development Centre, Faridabad, and produced at the state-of-the-art Paradip Refinery ," it noted.

"It blends high-octane rating gasoline (petrol) streams with advanced sustainable components, including 2G Ethanol from Panipat Refinery.

Certified by Bureau Veritas, Dubai, the fuel meets FIA (Federation Internationale de l'Automobile) 2024 specifications.

" IOC has partnered with Madras Motor Sports Club to supply STORM-X for the 3rd and 4th rounds of the Indian National Racing Championship at Madras International Circuit in the 2024 season.

"A total of 55 barrels of STORM-X were dispatched for the 3rd round at the launch ceremony," it said.

"Paradip Refinery, known for its advanced technological capabilities, played a crucial role in developing and producing this premium race fuel.

IOC's commitment to innovation, sustainability, and customer satisfaction continues to drive India's growth and development.

" Formula-One or F1 fuel is essentially high-octane petrol, and the standards are heavily regulated by the global motorsport governing body FIA on various counts, including permissible additives and blending agents.

IOC, in October last year, helped India join a select league of nations when it began producing highly specialised 'reference' petrol and diesel used for testing automobiles.

There are only three suppliers of reference fuels globally, including US giant Chevron.

IOC's Paradip refinery in Odisha is producing 'reference' grade petrol, and its Panipat unit in Haryana produces similar quality diesel.

Before this, Indian automobile manufacturers had to use imported reference fuel for testing cars and motorcycles.

Now, IOC is supplying them the same fuel grade at a much cheaper price.

Fuel retailers like IOC sell petrol and diesel of primarily two kinds - regular and premium, through their fuel station network.

The biggest difference between normal and premium fuel lies in the octane number.

The regular fuel has an octane number of 87, but premium fuel has an octane number of 91. Reference grade fuel comes with a 97-octane number.

The octane number is a unit to measure the ignition quality of petrol or diesel.

The company has three premium fuels - 95-octane XP95 petrol and 100-octane XP100 petrol used in high-end luxury cars and bikes.

It also has high-performance XtraGreen diesel that offers higher fuel economy, reduced noise, and emits lesser particulate matter -- carbon monoxide and nitrogen oxides.

The company will be the official fuel partner for the Federation Internationale De Motocyclisme (FIM) Asia Road Racing Championship (ARRC) for three years -- 2024 to 2026, supplying STORM-X petrol across all ARRC race rounds.

IOC will supply fuel for all the motorcyclists from 15 countries participating in the FIM Asia Road Racing Championship.

F1 currently uses E10 fuel containing 10 per cent renewable ethanol.

The percentage of fuel coming from non-fossil sources, such as alcohol, algae or wastekeeping, is to go up to 40 per cent this year and 100 per cent sustainable fuel from 2026.