Wikipedia

Nayara Energy

(Redirected from Essar Oil)

Nayara Energy Limited (NEL) (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.

Nayara Energy
FormerlyEssar Oil Limited
Company type
Private
IndustryOil and gas
Founded12 September 1989; 36 years ago (1989-09-12)
FounderShashi, Ravi Ruia
HeadquartersNayara Energy Limited 5th Floor, Godrej BKC, Plot No. C-68, G Block, Bandra Kurla Complex,
Bandra (East), Mumbai - 400 051, Maharashtra
,
India[1]
Key people
ProductsPetroleum
RevenueDecrease ₹150,324 crore (US$16 billion) (2025)[2]
Decrease ₹9,528 crore (US$990 million) (2025) [2]
Decrease ₹6,079 crore (US$630 million) (2025) [2]
Total assetsDecrease ₹85,447 crore (US$8.9 billion) (2025) [2]
Total equityIncrease ₹50,010 crore (US$5.2 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

History

edit

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

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

It operates over 7000 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

July 2025 – European Union sanctions

edit

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

References

edit
  1. ↑ "Contact us". nayaraenergy.com. Retrieved 17 March 2026.
  2. 1 2 3 4 5 "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. 1 2 3 "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. 1 2 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. 1 2 Laskar, Rezaul H (18 July 2025). "Gujarat refinery hit by EU's new Russia sanctions; India says double standards". Hindustan Times.
  14. 1 2 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.
edit
Retrieved from "https://en.wikipedia.org/w/index.php?title=Nayara_Energy&oldid=1356216923"