Nayara Energy Turns to Indian State-Run OMCs Amid EU Sanctions

Following the imposition of EU sanctions on Russia's energy sector, Nayara Energy, backed by Russia, has approached Indian state-run oil marketing companies (OMCs) to offload its export volumes of petrol and diesel. This move comes as the company faces operational challenges due to the sanctions.

Operational Impacts and Future Plans

Nayara Energy, operating India's second-largest single-site refinery in Vadinar, Gujarat, is currently running at 80% capacity. Despite the sanctions, the company has reaffirmed its commitment to investing over Rs 70,000 crore in downstream projects, including petrochemicals and ethanol plants, showcasing its long-term dedication to India's energy sector.

Expanding Retail Network and CSR Initiatives

With a retail network of over 6,300 fuel stations, Nayara Energy plans to expand its presence by more than 50% by 2030. The company also emphasizes its corporate social responsibility (CSR) efforts, with an annual budget of Rs 200 crore focused on community development.