Nayara Energy

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Nayara Energy Ltd.
Formerly
Essar Oil Ltd.
Subsidiary
IndustryOil
Headquarters5th Floor, Jet Airways Godrej BKC, Plot No. C-68, G Block, Bandra Kurla Complex, ,
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

Nayara (pronounced na-yaa-raa -ˈnæ.ˈjɑː rə) (About this soundlisten) Energy (formerly Essar Oil Limited) Limited is a privately-held downstream oil company based in Mumbai, India, that encompasses refining, marketing, production and a network of over 5,000 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.

History[edit]

Nayara Energy Refinery at Vadinar, Gujarat

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 (NSEESSAROIL and BSE500134) 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]

India's second largest single-site Refinery of Nayara Energy

In August 2017, Rosneft along with an investment consortium comprising global commodity trading firm Trafigura and Russia's investment fund United Capital Partners bought a 49.13% stake in Essar Oil for $12.9 billion. In 2018 they renamed the company to Nayara Energy, from the Hindi word naya (new) and the English word era.

External links[edit]

References[edit]

  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.