Nayara Energy

Nayara Energy (pronounced na-yaa-raa -ˈnæ.ˈjɑː rə) (listen) is a downstream company of international scale with prominence across the hydrocarbon value chain from Refining to Retail. Nayara Energy’s single site refinery at Vadinar, Gujarat contains a capacity of 20MMTPA,[3] making it the second largest in India.[4] On the globally accepted scale of 1-20 , the complexity of Nayara Energy refineries goes to 11.8 making it one of the world’s most modern and complex refineries, amongst the highest globally.  The refinery is supported by end-to-end captive infrastructure including SBM (Single Buoy Mooring), crude oil tanker facility, water intake facilities, a multi-fuel power plant, product jetty and dispatch facilities (rail, road, and sea). Nayara Energy is rapidly growing as a private fuel retail network in India, with over 6,000 operational retail outlets.[5]

Nayara Energy Ltd.
FormerlyEssar Oil Limited
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
  • Mr Prasad K Panicker (Chairman)
  • Alois Virag (CEO)
  • [2]
ProductsPetroleum
Revenue
  • Decrease ₹87,371 crore (US$11.93 billion) (2020)
  • Increase ₹2,476 crore (US$338 million) (2020)
Total assets
  • Increase ₹49,061 crore (US$6.70 billion) (2020)
Total equity
  • Decrease ₹18,928 crore (US$2.58 billion) (2020)
OwnersRosneft (49.13%) Kesani Enterprises Co Ltd and United Capital Partners (49.13%)
Websitewww.nayaraenergy.com

Nayara Energy plans to build one of the largest integrated petrochemicals complexes in the country. Under Phase-1 of its petrochemical expansion project, Nayara Energy is setting up a 450 KTPA capacity Polypropylene plant at its Vadinar refinery in Gujarat. This plant will include a Propylene Recovery Unit along with upgrades to the existing FCC Unit (Fluidized Catalytic Cracking Unit) and a Polypropylene Unit (PPU). The company expects production of Phase-1 of its first petrochemical product i.e. Polypropylene by Q4 of 2023.

The company holds core beliefs in driving inclusive growth and delivering value for their stakeholders. Nayara Energy has taken various initiatives in improving many communities through projects in areas of Health & Nutrition, Education & Skill Development, and Sustainable Livelihoods.

In their efforts to transition to greener sources of energy and commit to reducing their carbon footprint, Nayara has transitioned 300 of their retail outlets to solar power, enhancing environment sustainability.[6]

History

Nayara Energy operates the second-largest refinery in India. It is located in Vadinar, Devbhoomi Dwarka District, a few kilometers away from the world's largest refining complex (Jamnagar Refinery of Reliance Industries)

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).[7][8]

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

References
  1. "Contact us". nayaraenergy.com. Retrieved 30 January 2019.
  2. "Nayara Energy Leadership".
  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. Mishra, Twesh (5 February 2021). "Nayara Energy's India fuel retail outlets triple in 5 years to reach 6,000". www.business-standard.com. Retrieved 30 January 2023.
  6. 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.
  7. "Essar Oil delists in Rs 3,745 cr payout". The Hindu. 31 December 2015. Retrieved 31 December 2015.
  8. "Essar Oil completes delisting process with Rs 3,745-cr payout". The Indian Express. Retrieved 31 December 2015.
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