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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; 36 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 (NSEESSAROIL and BSE500134) 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]

Template:Energy companies and organisations in India