Nayara Energy
Indian Petroleum Company
From Wikipedia, the free encyclopedia
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] It operates 6000+ Nayara branded outlets and over 1200 petrol pumps in various states.
 | |
 | |
| Formerly | Essar Oil Limited |
|---|---|
| Company type | Private |
| Industry | Oil and gas |
| Headquarters | Nayara Energy Limited
5th Floor, Godrej BKC, Plot No. C-68, G Block, Bandra Kurla Complex, , India[1] |
Key people |
|
| Products | Petroleum |
| Revenue |  ₹150,324 crore (US$18 billion) (2025)[2] |
|
₹9,528 crore (US$1.1 billion) (2025) [2] | |
|
₹6,079 crore (US$720 million) (2025) [2] | |
| Total assets |
₹85,447 crore (US$10 billion) (2025) [2] |
| Total equity | 
₹50,010 crore (US$5.9 billion) (2025) [2] |
| Owners | Rosneft (49.13%) Kesani Enterprises Co Ltd and United Capital Partners(49.13%) |
| Website | www |
| Footnotes / references https://www.nayaraenergy.com/storage/news-rooms/August2025/tZeRnDAPQxuiGKEwfupT.pdf | |
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]
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]."
