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Nayara Energy
Indian Petroleum Company From Wikipedia, the free encyclopedia
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Nayara Energy LTD(pronounced na-yaa-raa -ˈnæ.ˈjɑː rə) (ⓘ)is an Indo-Russian oil refining and marketing company that owns and operates Vadinar refinery located at Dwarka district of Kutch Vadinar, Gujarat, India with a capacity of 250 MMTPA of refining capacity Crude oil processed [3] making it the second largest refinery in India.[4] 6000+ Nayara branded outlets and over 1200 petrol pumps in various states.
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History
Nayara Energy operates the second-largest refinery in India. It is in Vadinar, Devbhoomi Dwarka District, a few kilometres from the world's largest refining complex (Jamnagar Refinery of Reliance Industries).[citation needed]
Buyout
It was a publicly traded company (NSE: ESSAROIL and BSE: 500134) until it was taken private in a leveraged buyout which closed on 30 December 2015. It was delisted valued at ₹380 billion (US$5.3 billion).[5][6]
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Operations
It operates over 6600 retail fuel outlets in the country, highest for any private oil company in India.[7]
The refinery is supported by a crude oil tanker facility, water intake facilities, a multi-fuel power plant, a product jetty, dispatch facilities (rail, road, and sea) and retail outlets.[8][9]
Vadinar processes ~400,000 bpd (~20 million MT/year), making it India’s second‑largest single‑site refinery, with ~7,000 retail outlets under the Nayara brand.[10]
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International sanctions
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Perspective
July 2025 – European Union sanctions[11]
On 18 July 2025, amid its 18th sanctions package targeting Russian oil and energy revenues, the EU designated Nayara Energy’s Gujarat-based Vadinar refinery—49.13 % owned by Russia’s Rosneft—as subject to sanctions, citing its status as the "biggest Rosneft refinery in India" and its role in refining Russian crude into petroleum products.[10]
These measures include:[12]
- "prohibition on importing refined petroleum products made from Russian crude via third countries (effective after a 6‑month transition)[13];"
- "asset freezes, travel bans, and restrictions on financial services and shipping/insurance for activities linked to refining or transporting Russian oil — including involvement in the EU "shadow fleet"[14];"
- "a lowered EU oil price cap on Russian crude (approx. US$47.6/bbl, effective 3 Sept 2025) with a dynamic mechanism to prevent evasion[12];"
Impact and response:
- "Nayara is banned from exporting to the EU, and risks losing access to European banking, insurance, and technology services[14]."
- "India criticised the move as “unilateral” and accused the EU of “double standards”, citing strategic energy needs[10][13][15]."
- "The sanctions likely hinder Rosneft’s planned 49 % stake sale and complicate Reliance’s cross-border fuel exports to Europe[16]."
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References
External links
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