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{{Advert|date=May 2019}}
{{Short description|Indian Petroleum Company}}
{{merge-to|Vadinar refinery|date=September 2021}}
{{More citations needed|date=July 2023}}
{{Use Indian English|date=February 2017}}
{{Use Indian English|date=February 2017}}
{{Use dmy dates|date=March 2013}}
{{Use dmy dates|date=September 2024}}
{{Infobox company
{{Infobox company
| name = Nayara Energy Ltd.
| name = Nayara Energy
| logo = Logo Nayara Energy.jpg
| logo = Logo Nayara Energy.jpg
| logo_size = 250px
| logo_size = 150px
| logo_alt = Nayara Energy Logo
| logo_alt = Nayara Energy Logo
| logo_caption =  
| logo_caption =  
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| image_alt = Nayara Energy's Vadinar Refinery
| image_alt = Nayara Energy's Vadinar Refinery
| image_caption = Nayara Energy Refinery at [[Vadinar]], [[Gujarat]]
| image_caption = Nayara Energy Refinery at [[Vadinar]], [[Gujarat]]
| former_name =  
| former_name = Essar Oil Limited
| type = [[Private company|Private]]
| type = [[Private company|Private]]
| ISIN =  
| ISIN =  
| industry = [[Oil and gas]]
| industry = [[Oil and gas]]
| founded = <!-- if known: {{Start date and age|YYYY|MM|DD}} in [[city]], state, country -->
| founded = {{Start date and age|1989|9|12|df=yes}}
| founder = <!-- or: | founders = -->
| founder = Shashi, Ravi Ruia
| defunct = <!-- {{End date|YYYY|MM|DD}} -->
| defunct = <!-- {{End date|YYYY|MM|DD}} -->
| hq_location = 5th Floor, Jet Airways Godrej BKC, Plot No. C-68, G Block, Bandra Kurla Complex
| hq_location = Nayara Energy Limited
| hq_location_city = [[Bandra]] (East), [[Mumbai]], [[Maharashtra]]
 
| hq_location_country = India<ref>{{cite web |title=Contact us |url=https://www.nayaraenergy.com/contact-us |website=www.nayaraenergy.com |accessdate=30 January 2019}}</ref>
5th Floor, Godrej BKC, Plot No. C-68, G Block, Bandra Kurla Complex
| hq_location_city = [[Bandra]] (East), [[Mumbai - 400 051]], [[Maharashtra]]
| hq_location_country = India<ref>{{cite web |title=Contact us |url=https://www.nayaraenergy.com/contact-us |website=nayaraenergy.com |accessdate=17 March 2026}}</ref>
| num_locations =  
| num_locations =  
| num_locations_year = <!-- Year of num_locations data (if known) -->
| num_locations_year = <!-- Year of num_locations data (if known) -->
| area_served = <!-- or: | areas_served = -->
| area_served = <!-- or: | areas_served = -->
| key_people = {{ubl|Tony Fountain <small>(Chairman)</small>|Alois Virag <small>(CEO)</small>|<ref>{{cite web|title=Nayara Energy Leadership|url=https://www.nayaraenergy.com/board/board-members}}</ref>}}
| key_people = {{Unbulleted list|Teymur Abasguliyev ([[Chief executive officer|CEO]])|[[Prasad K Panicker]] ([[Executive Chairman]])}}
| products = Petroleum
| products = [[Petroleum]]
| brands =  
| brands =  
| production =  
| production =  
| production_year = <!-- Year of production data (if known) -->
| production_year = <!-- Year of production data (if known) -->
| services =  
| services =  
| revenue = {{Unbulleted list|{{Decrease}} ₹87,371 crore (US$11.93 billion) (2020)}}
| revenue = {{Decrease}} {{INRConvert|150324|c}} (2025)<ref name=pnl>{{Cite web|title=Annual report 2025|url=https://www.nayaraenergy.com/storage/annual-reports/September2025/QaSqVHbUzDJ635i6KRac.pdf}}</ref>
| net_income = {{Unbulleted list|{{Increase}} ₹2,476 crore (US$338 million) (2020)}}
| operating_income = {{Decrease}}
| assets = {{Unbulleted list|{{Increase}} ₹49,061 crore (US$6.70 billion) (2020)}}
{{INRConvert|9528|c}} (2025) <ref name=pnl/>
| assets_year =  
| net_income = {{Decrease}}
| equity = {{Unbulleted list|{{Decrease}} ₹18,928 crore (US$2.58 billion) (2020)}}
{{INRConvert|6079|c}} (2025) <ref name=pnl/>
| equity_year = <!-- Year of equity data (if known) -->
| assets = {{Decrease}}
| owners = [[Rosneft]] (49.13%) [[Trafigura Group]] and [[United Capital Partners]] (49.13%)
{{INRConvert|85447|c}} (2025) <ref name=pnl/>
| equity = {{Increase}}
{{INRConvert|50010|c}} (2025) <ref name=pnl/>
| owners = [[Rosneft]] (49.13%)<br> [[Kesani Enterprises Co Ltd]] and [[United Capital Partners]](49.13%)
| members =  
| members =  
| members_year = <!-- Year of members data (if known) -->
| members_year = <!-- Year of members data (if known) -->
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| module = <!-- Used to embed other templates -->
| module = <!-- Used to embed other templates -->
| website = {{URL|https://www.nayaraenergy.com/}}
| website = {{URL|https://www.nayaraenergy.com/}}
| footnotes =  
| footnotes = https://www.nayaraenergy.com/storage/news-rooms/August2025/tZeRnDAPQxuiGKEwfupT.pdf
}}
}}


'''Nayara Energy Limited''' (pronounced na-yaa-raa -ˈnæ.ˈjɑː rə) ({{pronunciation|nayara.ogg|listen|help=no}}) is a privately-held [[Downstream (petroleum industry)|downstream]] oil company based in [[Mumbai]], India, that encompasses refining, marketing, production and a network of over 6,000+ retail fuel outlets in India. It operates India's second largest oil refinery in [[Vadinar]], [[Gujarat]]. In 2017, Essar Oil was acquired by Rosneft and an investment consortium led by Trafigura & UCP Investment Group. Nayara ranked 21st in the [[Fortune India 500]] list in 2020.<ref>{{Cite web|title=Nayara Energy - Fortune 500 List 2020 - Fortune India|url=https://www.fortuneindia.com/fortune-500/company-list/nayara-energy?year=2020|access-date=2021-01-12|website=www.fortuneindia.com|language=en}}</ref>
'''Nayara Energy''' '''Limited''' ('''NEL''') (pronounced na-yaa-raa -ˈnæ.ˈjɑː rə) ({{pronunciation|nayara.ogg|listen|help=no}}) 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 <ref>{{Cite web |last=www.ETEnergyworld.com |title=Nayara Energy says on track for setting up solar power plants, Energy News, ET EnergyWorld |url=https://energy.economictimes.indiatimes.com/news/renewable/nayara-energy-says-on-track-for-setting-up-solar-power-plants/96897209 |access-date=2023-01-30 |website=ETEnergyworld.com |language=en}}</ref> making it the second largest refinery  in India.<ref>{{Cite news |title=Nayara Energy exports 80% of fuel to Asia, Africa; none to EU |work=The Economic Times |url=https://economictimes.indiatimes.com/industry/energy/oil-gas/nayara-energy-exports-80-of-fuel-to-asia-africa-none-to-eu/articleshow/95660221.cms |access-date=2023-01-30}}</ref> It operates 6000+ Nayara branded outlets and over 1200 petrol pumps in various states.


== History ==
== History ==
Nayara Energy operates the second largest refinery in India. It is located in Vadinar, [[Devbhoomi Dwarka District]], few kilometers away from the world's largest refining complex ([[Jamnagar Refinery]] of [[Reliance Industries]])
Nayara Energy operates the second-largest refinery in India. It is in Vadinar, [[Devbhumi Dwarka district|Devbhoomi Dwarka]] District, a few kilometres from the world's largest refining complex ([[Jamnagar Refinery]] of [[Reliance Industries]]).{{Cn|date=May 2023}}
 
===Buyout===
It was a [[Public company|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).<ref name="Hindu delists">{{cite news|title=Essar Oil delists in Rs 3,745 cr payout|url=http://www.thehindu.com/todays-paper/tp-national/tp-mumbai/essar-oil-delists-in-rs-3745-cr-payout/article8047801.ece|accessdate=31 December 2015|work=The Hindu|date=31 December 2015}}</ref><ref name="Express delists">{{cite news|title=Essar Oil completes delisting process with Rs 3,745-cr payout|url=http://indianexpress.com/article/business/business-others/essar-oil-completes-delisting-process-with-rs-3745-cr-payout/|accessdate=31 December 2015|work=The Indian Express}}</ref>
 
== Operations ==
It operates over 6600 retail fuel outlets in the country, highest for any private oil company in India.<ref>{{Cite news |title=Private OMCs Gain market share in Bulk Diesel sales|url=https://economictimes.indiatimes.com/industry/energy/oil-gas/ril-and-nayara-now-sell-a-4th-of-indias-bulk-diesel/articleshow/109293706.cms}}</ref>
 
The refinery is supported by a [[Petroleum|crude oil]] tanker facility, water intake facilities, a multi-fuel power plant, a product jetty, dispatch facilities (rail, road, and sea) and retail outlets.<ref>{{Cite news |last=Mishra |first=Twesh |date=2021-02-05 |title=Nayara Energy's India fuel retail outlets |language=en |newspaper=The Economic Times |url=https://economictimes.indiatimes.com/industry/energy/oil-gas/reliance-bp-nayara-price-petrol-diesel-at-market-rates/articleshow/99884579.cms |access-date=2023-05-01}}</ref><ref>{{Cite web |last=www.ETEnergyworld.com |title=Nayara Energy exports 80 per cent of fuel to Asia, Africa; none to EU, Energy News, ET EnergyWorld |url=https://energy.economictimes.indiatimes.com/news/oil-and-gas/nayara-energy-exports-80-per-cent-of-fuel-to-asia-africa-none-to-eu/95659214 |access-date=2023-01-30 |website=ETEnergyworld.com |language=en}}</ref>
 
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.<ref name=":0">{{Cite web |date=19 Jul 2025 |title=Why did EU sanction Nayara Energy's Vadinar refinery in Gujarat? What we know so far |url=https://www.livemint.com/news/india/why-did-eu-sanction-nayara-energys-vadinar-refinery-in-gujarat-russia-what-we-know-so-far-11752903188247.html |website=Mint}}</ref>
 
== International sanctions ==
 
=== July 2025 – European Union sanctions ===
Source:<ref>{{Cite news |date=2025-07-18 |title=Nayara Energy first Indian refinery to be hit by anti-Russia sanctions |url=https://timesofindia.indiatimes.com/business/india-business/nayara-energy-first-indian-refinery-to-be-hit-by-anti-russia-sanctions/articleshow/122770041.cms |access-date=2025-07-19 |work=The Times of India |issn=0971-8257}}</ref>
 
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.<ref name=":0" />
 
These measures include:<ref name=":1">{{Cite news |last=Abnett |first=Kate |last2=Tunagur |first2=Enes |last3=Strahm |first3=Milan |last4=Abnett |first4=Kate |date=2025-07-18 |title=What's in the EU's 18th sanctions package against Russia? |url=https://www.reuters.com/sustainability/boards-policy-regulation/whats-eus-18th-sanctions-package-against-russia-2025-07-18/ |access-date=2025-07-19 |work=Reuters |language=en}}</ref>
 
* "prohibition on importing refined petroleum products made from Russian crude via third countries (effective after a 6‑month transition)<ref name=":2">{{Cite web |last=Laskar |first=Rezaul H |date=Jul 18, 2025 |title=Gujarat refinery hit by EU’s new Russia sanctions; India says double standards |url=https://www.hindustantimes.com/india-news/new-eu-sanctions-lower-oil-price-cap-ban-products-made-from-russian-crude-101752842547914.html |website=Hindustan Times}}</ref>;"
* "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"<ref name=":3">{{Cite news |last=Choudhary |first=Sanjeev |date=2025-07-19 |title=EU fuels crude awakening for Nayara Energy, but Reliance feels the heat too |url=https://economictimes.indiatimes.com/industry/energy/oil-gas/eu-fuels-crude-awakening-for-nayara-energy-but-reliance-feels-the-heat-too/articleshow/122772142.cms |access-date=2025-07-19 |work=The Economic Times |issn=0013-0389}}</ref>;"
* "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<ref name=":1" />;"
 
'''Impact and response:'''
 
* "Nayara is banned from exporting to the EU, and risks losing access to European banking, insurance, and technology services<ref name=":3" />."
* "India criticised the move as “unilateral” and accused the EU of “double standards”, citing strategic energy needs<ref name=":0" /><ref name=":2" /><ref>{{Cite news |date=2025-07-19 |title=India cries foul as EU curbs on Russia hit Gujarat refinery |url=https://timesofindia.indiatimes.com/india/india-cries-foul-as-eu-curbs-on-russia-hit-gujarat-refinery/articleshow/122774028.cms |access-date=2025-07-19 |work=The Times of India |issn=0971-8257}}</ref>."
* "The sanctions likely hinder Rosneft’s planned 49 % stake sale and complicate Reliance’s cross-border fuel exports to Europe<ref>{{Cite web |date=2025-07-18 |title=New EU sanctions could block Rosneft's Indian refinery sale plans, Bloomberg reports |url=https://kyivindependent.com/new-eu-sanctions-could-block-rosnefts-indian-refinery-sale-plans-07-2025/ |access-date=2025-07-19 |website=The Kyiv Independent |language=en}}</ref>."


It was a [[Public company|publicly traded company]] ({{NSE|ESSAROIL}}  and  {{BSE|500134}}) until it was taken private in a leveraged buyout which closed on December 30, 2015. It was delisted valued at ₹380 billion (US$5.3 billion).<ref name="Hindu delists">{{cite news|title=Essar Oil delists in Rs 3,745 cr payout|url=http://www.thehindu.com/todays-paper/tp-national/tp-mumbai/essar-oil-delists-in-rs-3745-cr-payout/article8047801.ece|accessdate=31 December 2015|work=The Hindu|date=31 December 2015}}</ref><ref name="Express delists">{{cite news|title=Essar Oil completes delisting process with Rs 3,745-cr payout|url=http://indianexpress.com/article/business/business-others/essar-oil-completes-delisting-process-with-rs-3745-cr-payout/|accessdate=31 December 2015|work=The Indian Express}}</ref>
[[File:FtJum9piq4wuT5LI1Fns.jpg|alt=|thumb|262x262px|Nayara Energy Port at Vadinar, Gujarat]]
[[File:FtJum9piq4wuT5LI1Fns.jpg|alt=|thumb|262x262px|Nayara Energy Port at Vadinar, Gujarat]]
In August 2017, [[Rosneft]] Singapore Pte Limited (49.13%) and Kesani Enterprises Company Limited (49.13%) acquired 98.26% equity stake in Nayara Energy, along with captive port and power assets. Kesani Enterprises Company Limited is owned by [[Trafigura]] Holdings Pte Ltd (49%), United Capital Partners PE Investments Ltd (49%) and Oil Holdings Ltd (2%). In 2018, they renamed the company to Nayara Energy, from the Hindi word naya (new) and the English word era.


== See also ==
== See also ==
* [[Essar Refinery]]
* [[Rosneft]]
* [[United Capital Partners]]
* [[Vadinar refinery|Vadinar Refinery]]
* [[Essar Group]]
* [[Essar Group]]


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* [https://www.bseindia.com/stock-share-price/nayara-energy-ltd/ESSAROIL/500134/ Essar Oil BSE listing]
* [https://www.bseindia.com/stock-share-price/nayara-energy-ltd/ESSAROIL/500134/ Essar Oil BSE listing]


{{Energy companies and organizations in India}}
{{Energy companies and organisations in India}}
{{Authority control}}


[[Category:Rosneft]]
[[Category:Rosneft]]
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[[Category:Non-renewable resource companies established in 1969]]
[[Category:Non-renewable resource companies established in 1969]]
[[Category:Indian companies established in 1969]]
[[Category:Indian companies established in 1969]]
[[Category:1969 establishments in Maharashtra]]
[[Category:Companies formerly listed on the National Stock Exchange of India]]
[[Category:Companies formerly listed on the Bombay Stock Exchange]]
[[Category:Companies formerly listed on the Bombay Stock Exchange]]
[[Category:1969 establishments in Maharashtra]]
[[Category:Companies listed on the National Stock Exchange of India]]
[[Category:Companies listed on the Bombay Stock Exchange]]

Latest revision as of 21:50, 26 March 2026

Nayara Energy
Formerly
Essar Oil Limited
IndustryOil and gas
Founded12 September 1989; 37 years ago (1989-09-12)
Founder(s)Shashi, Ravi Ruia
HeadquartersNayara Energy Limited 5th Floor, Godrej BKC, Plot No. C-68, G Block, Bandra Kurla Complex, ,
India[1]
Key people
ProductsPetroleum
RevenueDecrease ₹150,324 crore (US$21 billion) (2025)[2]
Decrease ₹9,528 crore (US$1.3 billion) (2025) [2]
Decrease ₹6,079 crore (US$850 million) (2025) [2]
Total assetsDecrease ₹85,447 crore (US$12 billion) (2025) [2]
Total equityIncrease ₹50,010 crore (US$7.0 billion) (2025) [2]
OwnersRosneft (49.13%)
Kesani Enterprises Co Ltd and United Capital Partners(49.13%)
Websitewww.nayaraenergy.com
Footnotes / references
https://www.nayaraenergy.com/storage/news-rooms/August2025/tZeRnDAPQxuiGKEwfupT.pdf

Nayara Energy Limited (NEL) (pronounced na-yaa-raa -ˈnæ.ˈjɑː rə) (Template:Pronunciation) 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[edit | edit source]

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[edit | edit source]

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[edit | edit source]

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[edit | edit source]

July 2025 – European Union sanctions[edit | edit source]

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[edit | edit source]

References[edit | edit source]

  1. ↑ "Contact us". nayaraenergy.com. Retrieved 17 March 2026.
  2. ↑ 2.0 2.1 2.2 2.3 2.4 "Annual report 2025" (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. ↑ 10.0 10.1 10.2 "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. ↑ 12.0 12.1 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. ↑ 13.0 13.1 Laskar, Rezaul H (18 July 2025). "Gujarat refinery hit by EU's new Russia sanctions; India says double standards". Hindustan Times.
  14. ↑ 14.0 14.1 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.

External links[edit | edit source]