NAYARA ENERGY
Crude shock: Sanctions choke non-Russia oil flow to Nayara
Nayara Energy faces challenges due to sanctions. Crude imports are down, impacting refinery operations. Fuel exports have decreased, leading the company to explore new markets like Brazil and Taiwan. Some shipments have undeclared destinations. The company is focusing on the domestic market with its fuel pumps. Nayara and Rosneft consider the sanctions unfair.
Saudi Aramco, Iraq company SOMO halt oil sales to Nayara Energy
Saudi Aramco and Iraq's SOMO have suspended crude sales to India's Nayara Energy following EU sanctions on the Russian-backed refiner. This has forced Nayara, majority-owned by Russian entities, to rely solely on Russian crude imports in August.
IOC's Project SPRINT starts to show results, company gains retail dominance
Indian Oil Corporation's Project SPRINT is yielding positive results, enhancing refinery performance and regaining fuel retail leadership. IOC is expanding refining capacity to 98.4 million tonnes by 2028 and its pipeline network to 22,000 km. The company is also investing significantly in petrochemicals and renewable energy to achieve net-zero emissions by 2046, allocating ₹1.66 lakh crore over five years.
Reliance AGM 2025: Past year brought extraordinary 'complexity' in global energy markets, admits Reliance
At Reliance Industries’ 48th AGM, Anant Ambani said global energy markets faced supply disruptions, trade shifts and petrochemical overcapacity, but Reliance delivered strong performance. He announced ₹75,000 crore investments in new projects, highlighted Hazira’s upcoming carbon fibre facility, and stressed E&P’s role in India’s energy security. Mukesh Ambani called India’s rise unstoppable, even as Reliance faces U.S. pressure over Russian oil imports.
Russian deals put Reliance oil core in focus at its Annual General Meeting
Reliance Industries faces scrutiny at its annual meeting as US tariffs loom over India's Russian oil imports. Mukesh Ambani's company, a major buyer of Russian crude, navigates a delicate balance between strategic deals and potential US sanctions. While Ambani will likely highlight digital and renewable energy ventures, the Russia issue will remain a key concern.
Trump Tariffs: India can get 25% off its tariffs if New Delhi stops buying Russian oil, says Trump's trade adviser Peter Navarro
US Trump Tariffs News: White House trade adviser Peter Navarro has branded the Ukraine conflict “Modi’s war,” claiming India’s discounted oil purchases from Russia bankroll Moscow’s invasion and raise costs for American taxpayers. His remarks came as US tariffs on Indian goods doubled to 50 percent, affecting more than half of exports. India insists its energy security comes first and rejects US pressure. The escalation threatens jobs, trade ties and India’s export competitiveness, even as businesses brace for short-term pain and look for new markets.
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India's Russian oil imports set to rise in September in defiance of US
India is poised to increase its Russian oil imports in September due to discounted prices and refinery outages in Russia caused by Ukrainian attacks. Despite U.S. tariffs and EU price caps, India continues to rely on Russian crude, benefiting from cheaper supplies while facing international scrutiny.
Why India's Russian oil imports sparked US tariffs amid Ukraine peace talks
India, a major oil importer, faces pressure from the U.S. due to its increased Russian oil purchases, which Washington views as funding the Ukraine war. Trump imposed tariffs in response, contrasting with the previous administration's acceptance of these imports to stabilize global prices.
Oil prices little changed as market awaits impact of US tariffs on India
Oil prices remained relatively stable on Wednesday as the market anticipates new U.S. tariffs on India due to its Russian oil purchases. These tariffs, set to increase significantly, have raised concerns about their potential impact on Indian refiners' buying habits.
SOCAR Turkey executive appointed new CEO of Nayara Energy
Nayara Energy, backed by Rosneft, has appointed Teymur Abasguliyev as its new CEO, replacing Alessandro Des Dorides, who resigned due to EU sanctions. Several other top officials also stepped down following the sanctions. Rosneft and Nayara have criticized the EU sanctions, deeming them unjust and harmful to India's energy security.
India to ease Russian oil purchases as higher US levies loom
Facing increased pressure from Washington, Indian refiners, major buyers of Russian crude, plan to slightly reduce their purchases. This decision comes ahead of a US tariff hike and reflects a balancing act between economic interests and geopolitical considerations.
India's crude oil imports drop to near 18-month low in July
India’s crude oil imports fell 8.7% in July to 18.56 million tons—the lowest since February 2024—while fuel demand also dropped 4.3%. Year-on-year, crude imports declined 4.3% and product imports 12.8%. The fall may reflect U.S. tariff threats over Russian oil purchases. India plans to address U.S. trade ties openly, even as refiners resume discounted Russian oil buys.
US, EU sanctions hit Nayara Energy's EPC operations
Sanctions imposed by the EU and the US are affecting Nayara Energy's EPC work, leading Technip Energies and PT Timas Suplindo to withdraw from tenders. This is due to Rosneft's significant stake in Nayara Energy, even though the company isn't directly sanctioned. Nayara Energy may now seek domestic and other regional EPC players to complete its projects.
Shadow fleet: How secret ships beat Western oil sanctions
Facing EU sanctions due to Rosneft's stake, India's Nayara Energy is reportedly utilizing a 'shadow fleet' to import oil and export refined fuels. This fleet, estimated at a fifth of global tankers, helps circumvent Western sanctions by obscuring vessel identities and routes.
Oil prices gain as US inventory withdrawals point to strong demand
Oil prices experienced a slight increase due to a larger-than-expected decline in U.S. crude oil and fuel inventories, signaling strong demand. Despite this positive sentiment, concerns persist as negotiations to resolve the Russia-Ukraine conflict remain ongoing, potentially impacting Russian oil supplies and leading to further sanctions.
Sanctions-hit Indian refiner Nayara turns to dark fleet, tanker data shows
Nayara Energy, an Indian refiner backed by Russia and facing EU sanctions, is utilizing a dark fleet to import Russian oil and export refined fuels. Constrained by sanctions, Nayara has reduced refinery runs and seeks government assistance to secure ships. Russian entities are reportedly aiding Nayara in arranging vessels to maintain operations.
Nayara turns to dark fleet and Russian oil for survival
After EU sanctions, Nayara Energy is using dark-fleet tankers and a limited crude import selection to maintain operations, raising concerns in India about energy security. The government has approved coastal tankers, including sanctioned vessels, to assist Nayara. Despite challenges, Russia assures continued crude supplies, employing special mechanisms to bypass sanctions.
India's Russian oil imports dip in July, skips Latin American supply, data shows
India's Russian oil imports decreased in July due to reduced discounts and seasonal demand dips, with private refiners taking the majority. State refiners are shifting to Middle Eastern and U.S. supplies amid narrowed Urals discounts. Overall, Russian oil imports fell slightly in January-July, while U.S. purchases increased significantly, and Latin American imports were skipped in July.
In talks with govt to sustain operations: Nayara Energy
Nayara Energy, the Rosneft-backed refiner sanctioned by the EU, is in discussions with government and partners to ensure stable operations at its 20 million tonnes per annum refinery and maintain fuel supplies. The company emphasizes its commitment to meeting Indian consumer demand by supplying oil and oil products across the country.
Indian state refiners eye Russian oil as discounts rise ahead of Trump-Putin talks, sources say
Indian state refiners, including Indian Oil Corp, have resumed exploring purchases of Russia's Urals crude oil. This decision follows a widening of discounts, prompting renewed interest after a pause in purchases last month when discounts had narrowed. The move occurs ahead of a significant meeting between U.S. and Russian leaders, potentially influencing global oil market dynamics.
Tempest at sea: Nayara’s sanctioned cargo quietly slips into new hands
Nayara Energy, grappling with EU sanctions, is resorting to ship-to-ship transfers to continue fuel exports. A gasoline shipment from Nayara was moved from the Tempest Dream to the Wu Tai off Oman's coast. Both vessels have faced sanctions related to the Russian oil trade.
India sends rare diesel cargo to China as Nayara faces sanctions
An Indian diesel cargo is on its way to China. This marks the first such shipment since April 2021. The EM Zenith departed from Nayara's Vadinar terminal. EU sanctions on Rosneft-backed refinery complicated payments for Nayara. The vessel initially headed to Malaysia but changed course. It is now destined for Zhoushan, China.
Sanctions choke crude shipments to Indian refiner Nayara
Nayara Energy faces significantly reduced crude imports this month due to EU sanctions, impacting refinery operations and product exports. The company is struggling with payment challenges and seeking government assistance as domestic shippers withdraw support. To maintain operations, Nayara is relying on dark-fleet vessels and exploring alternative transportation methods.
SBI halts Nayara transactions over US tariffs, sanctions risk
State Bank of India has ceased processing trade and foreign currency transactions for Nayara Energy due to potential US sanctions following recent tariff increases. This decision aims to prevent SBI from facing US and European Union restrictions. The move follows EU sanctions restricting Russian fuel imports and a price cap on Russian crude, impacting banks with international operations.
Government to ease petrol pump licensing norms, check details
The Indian government is considering further easing norms for setting up petrol pumps to boost energy security and promote decarbonization. An expert committee has been formed to review existing guidelines and align them with national commitments to alternative fuels and electric mobility.
Crude awakening for Nayara as geopolitics sounds alarm; symbol of Indo-Russian ties hit hard by West penalty
Nayara Energy, once a symbol of India-Russia cooperation, faces significant challenges due to sanctions and global disruptions following the Ukraine invasion. These hurdles impact its exports, finances, and expansion plans, forcing a shift towards domestic markets and alternative strategies. The company navigates leadership changes and infrastructure concerns amidst potential ownership restructuring.
Nayara Energy seeks ships from India to ferry refined fuels, Indian government source says
Nayara Energy, an EU-sanctioned, Russia-backed private refiner, has requested assistance from India's shipping ministry to secure vessels for transporting its refined fuels. Facing difficulties in obtaining ships for its retail fuel supply within India, Nayara has already reduced its refinery's crude processing.
'No order to stop buying Russian oil'
New US tariffs may create problems for Indian oil companies Reliance Industries and Nayara Energy. These companies may face challenges importing crude oil and exporting refined fuel. Government has not directed to stop buying Russian crude. Nayara Energy has already reduced refinery operations. The company is offering petrol and diesel to state-run refiners.
Indian refiner Nayara seeks new local bank after EU sanctions
Nayara Energy, part-owned by Russia's Rosneft, is seeking government assistance to establish a relationship with a domestic lender like UCO Bank after EU sanctions created reluctance among larger banks. The company needs a local bank to finance crude oil imports and facilitate payments for refined fuel exports. Despite healthy liquidity, Nayara faces challenges due to sanctions and potential tariffs.
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