Nayara Energy

Nayara Energy Ltd.
FormerlyEssar Oil Limited
Company typePrivate
IndustryOil and gas
Headquarters5th Floor, Jet Airways Godrej BKC, Plot No. C-68, G Block, Bandra Kurla Complex,
Bandra (East), Mumbai, Maharashtra
,
India[1]
Key people
ProductsPetroleum
RevenueIncrease ₹156,030 crore (US$18 billion) (2024)[2]
Increase ₹20,247 crore (US$2.4 billion) (2024) [2]
Increase ₹12,321 crore (US$1.5 billion) (2024) [2]
Total assetsIncrease ₹87,749 crore (US$10 billion) (2024) [2]
Total equityIncrease ₹43,491 crore (US$5.1 billion) (2024) [2]
OwnersRosneft (49.13%)
Kesani Enterprises Co Ltd and United Capital Partners(49.13%)
Websitewww.nayaraenergy.com

Nayara Energy LTD (pronounced na-yaa-raa -ˈnæ.ˈjɑː rə) (listenⓘ) 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] It operates 6000+ Nayara branded outlets and over 1200 petrol pumps in various states.

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).

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]

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]

International sanctions

July 2025 – European Union sanctions

Source:[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]."
Nayara Energy Port at Vadinar, Gujarat

See also

References

  1. ^ "Contact us". nayaraenergy.com. Retrieved 30 January 2019.
  2. ^ a b c d e "Annual report 2024" (PDF).
  3. ^ www.ETEnergyworld.com. "Nayara Energy says on track for setting up solar power plants, Energy News, ET EnergyWorld". ETEnergyworld.com. Retrieved 30 January 2023.
  4. ^ "Nayara Energy exports 80% of fuel to Asia, Africa; none to EU". The Economic Times. Retrieved 30 January 2023.
  5. ^ "Essar Oil delists in Rs 3,745 cr payout". The Hindu. 31 December 2015. Retrieved 31 December 2015.
  6. ^ "Essar Oil completes delisting process with Rs 3,745-cr payout". The Indian Express. Retrieved 31 December 2015.
  7. ^ "Private OMCs Gain market share in Bulk Diesel sales".
  8. ^ Mishra, Twesh (5 February 2021). "Nayara Energy's India fuel retail outlets". The Economic Times. Retrieved 1 May 2023.
  9. ^ www.ETEnergyworld.com. "Nayara Energy exports 80 per cent of fuel to Asia, Africa; none to EU, Energy News, ET EnergyWorld". ETEnergyworld.com. Retrieved 30 January 2023.
  10. ^ a b c "Why did EU sanction Nayara Energy's Vadinar refinery in Gujarat? What we know so far". Mint. 19 July 2025.
  11. ^ "Nayara Energy first Indian refinery to be hit by anti-Russia sanctions". The Times of India. 18 July 2025. ISSN 0971-8257. Retrieved 19 July 2025.
  12. ^ a b Abnett, Kate; Tunagur, Enes; Strahm, Milan; Abnett, Kate (18 July 2025). "What's in the EU's 18th sanctions package against Russia?". Reuters. Retrieved 19 July 2025.
  13. ^ a b Laskar, Rezaul H (18 July 2025). "Gujarat refinery hit by EU's new Russia sanctions; India says double standards". Hindustan Times.
  14. ^ a b Choudhary, Sanjeev (19 July 2025). "EU fuels crude awakening for Nayara Energy, but Reliance feels the heat too". The Economic Times. ISSN 0013-0389. Retrieved 19 July 2025.
  15. ^ "India cries foul as EU curbs on Russia hit Gujarat refinery". The Times of India. 19 July 2025. ISSN 0971-8257. Retrieved 19 July 2025.
  16. ^ "New EU sanctions could block Rosneft's Indian refinery sale plans, Bloomberg reports". The Kyiv Independent. 18 July 2025. Retrieved 19 July 2025.
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