Nayara Energy


Nayara 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.

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.
It was a publicly traded company until it was taken private in a leveraged buyout which closed on December 30, 2015. It was delisted valued at ₹380 billion.
In August 2017, Rosneft Singapore Pte Limited and Kesani Enterprises Company Limited 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, United Capital Partners PE Investments Ltd and Oil Holdings Ltd. In 2018, they renamed the company to Nayara Energy, from the Hindi word naya and the English word era.