Nayara Energy

Nayara (pronounced na-yaa-raa -ˈnæ.ˈjɑː rə) (listen) Energy Limited is a privately-held downstream oil company based in Mumbai, India, that encompasses refining, marketing, production and a network of over 5,700 + retail fuel outlets in India. The company is chaired by Charles Anthony Fountain; B. Anand is CEO. In 2017 Essar Oil was acquired by Rosneft and an investment consortium led by Trafigura & UCP Investment Group.

Nayara Energy Ltd.
Formerly
Essar Oil
Subsidiary
IndustryOil
Headquarters5th Floor, Jet Airways Godrej BKC, Plot No. C-68, G Block, Bandra Kurla Complex,
Bandra (East), Mumbai, Maharashtra
,
India[1]
Key people
  • Tony Fountain (Chairman)
  • B. Anand (CEO)[2]
ProductsPetroleum
OwnersRosneft (49.13%) Trafigura Group and United Capital Partners (49.13%)
Websitewww.nayaraenergy.com

History

As part of the Mumbai-based Essar Group, Essar Oil operated a major refinery in Vadinar, Gujarat, making it the second largest non-state refinery in India in 2009.[3]

It was a 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).[4][5]

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.

References
  1. "Contact us". www.nayaraenergy.com. Retrieved 30 January 2019.
  2. "Nayara Energy Leadership".
  3. "Essar May Rise After Report That Shell May Acquire 10% Stake". Bloomberg. 23 November 2009.
  4. "Essar Oil delists in Rs 3,745 cr payout". The Hindu. 31 December 2015. Retrieved 31 December 2015.
  5. "Essar Oil completes delisting process with Rs 3,745-cr payout". The Indian Express. Retrieved 31 December 2015.
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