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Nayara Energy

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Nayara Energy Ltd.
FormerlyEssar Oil
Company typeSubsidiary
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
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%) Trafigura Group and United Capital Partners (49.13%)
Websitewww.nayaraenergy.com

Nayara (pronounced na-yaa-raa -ˈnæ.ˈjɑː rə) (listenⓘ) Energy Limited, previously known as Essar Oil 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. In 2017 Essar Oil was acquired by Rosneft and an investment consortium led by Trafigura & UCP Investment Group. Nayara ranked 21st in the Fortune India 500 list in 2020.[3]

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.[4]

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).[5][6]

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. ^ "Nayara Energy - Fortune 500 List 2020 - Fortune India". www.fortuneindia.com. Retrieved 12 January 2021.
  4. ^ "Essar May Rise After Report That Shell May Acquire 10% Stake". Bloomberg. 23 November 2009.
  5. ^ "Essar Oil delists in Rs 3,745 cr payout". The Hindu. 31 December 2015. Retrieved 31 December 2015.
  6. ^ "Essar Oil completes delisting process with Rs 3,745-cr payout". The Indian Express. Retrieved 31 December 2015.
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