Nayara Energy Limited (pronounced na-yaa-raa -ˈnæ.ˈjɑː rə) () is an Indo-Russian

downstream Downstream may refer to: * Downstream (bioprocess) * Downstream (manufacturing) * Downstream (networking) * Downstream (software development) * Downstream (petroleum industry) * Upstream and downstream (DNA), determining relative positions on DNA * ...

oil company based in

Mumbai Mumbai (, ; also known as Bombay — the official name until 1995) is the capital city of the Indian state of Maharashtra and the ''de facto'' financial centre of India. According to the United Nations, as of 2018, Mumbai is the second- ...

, India, that encompasses refining, marketing, production and a network of over 6,000+ retail fuel outlets in India. It operates India's second-largest oil refinery in

Vadinar Vadinar is small coastal town located in Devbhumi Dwarka district of the state of Gujarat, India. The offshore oil terminal of the Kandla Port Trust (K. P. T.) (Previously known as Kandla Port Trust, Kandla Port Trust is renamed as Deendayal P ...

Gujarat Gujarat (, ) is a state along the western coast of India. Its coastline of about is the longest in the country, most of which lies on the Kathiawar peninsula. Gujarat is the fifth-largest Indian state by area, covering some ; and the ninth ...

. In 2017,

Essar Oil Nayara Energy Limited (pronounced na-yaa-raa -ˈnæ.ˈjɑː rə) () is an Indo-Russian downstream oil company based in Mumbai, India, that encompasses refining, marketing, production and a network of over 6,000+ retail fuel outlets in India. I ...

was acquired by Rosneft and an investment consortium led by Trafigura & UCP Investment Group. Nayara ranked 21st in the

Fortune India 500 The ''Fortune India'' 500 is a ranking of the top 500 corporations in India compiled on the basis of latest sales and gross revenue figures. The list is published annually by ''Fortune'' magazine. ''Fortune India'' is ''Fortune'' sixth internatio ...

list in 2020.

History

Nayara Energy operates the second-largest refinery in India. It is located in Vadinar,

Devbhoomi Dwarka District Devbhumi Dwarka District is a district of India located on the southern coast of the Gulf of Kutch in the state of Gujarat. Its headquarters are located in the city of Jamkhambhaliya. The district was created on 15 August 2013 from Jamnagar distr ...

, a few kilometers away from the world's largest refining complex (

Jamnagar Refinery The Jamnagar Refinery is the private sector crude oil refinery owned by Reliance Industries in Jamnagar, Gujarat, India. The refinery was commissioned on 14 July 1999 with an installed capacity of . Its current installed capacity is . It is cur ...

Reliance Industries Reliance Industries Limited is an Indian multinational conglomerate company, headquartered in Mumbai. It has diverse businesses including energy, petrochemicals, natural gas, retail, telecommunications, mass media, and textiles. Reliance is ...

) It was a

publicly traded company A public company is a company whose ownership is organized via shares of stock which are intended to be freely traded on a stock exchange or in over-the-counter markets. A public (publicly traded) company can be listed on a stock exchange (l ...

( and ) 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). FtJum9piq4wuT5LI1Fns

In August 2017,

Rosneft PJSC Rosneft Oil Company ( stylized as ROSNEFT) is a Russian Vertical integration, integrated energy company headquartered in Moscow. Rosneft specializes in the exploration, Extraction of petroleum, extraction, production, refining, Petroleum t ...

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 Trafigura Group Pte. Ltd. is a Singaporean-based Swiss multinational commodity trading company founded in 1993 that trades in base metals and energy. It is the world's largest private metals trader and second-largest oil trader having built or p ...

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

External links

Essar Oil BSE listing
{{Energy companies and organizations in India Rosneft Essar Group Oil and gas companies of India Companies based in Mumbai Non-renewable resource companies established in 1969 Indian companies established in 1969 Companies formerly listed on the Bombay Stock Exchange 1969 establishments in Maharashtra Companies listed on the National Stock Exchange of India Companies listed on the Bombay Stock Exchange

History

See also

References

External links