Nayara Energy, a company backed by Russian oil major Rosneft, announced that it is well on track for its entry into the petrochemicals sector. At its Vadinar refinery in Gujarat, Nayara is constructing Phase 1 of the project, which includes the construction of a 450 ktpa polypropylene plant, a propylene recovery unit, upgrades to the … Read more
Gulshan Polyols Limited bagged ethanol supply order from oil marketing companies (OMCs) and Nayara Energy for ethanol blended petrol (EBP). Gulshan Polyols Limited had participated in a tender floated by OMCs inviting various molasses and grain-based distilleries for supplying Ethanol till 31/10/2023 at their various locations across the country. After the closure of the Second … Read more
Indian refiner Nayara Energy, part-owned by Russian oil giant Rosneft, could likely delay its planned petrochemicals expansion as a result of Western sanctions in response to Russia’s invasion of Ukraine, industry executives with knowledge of the matter said. Rosneft owns a 49% stake in Nayara Energy, which operates a 20 million tonnes a year refinery … Read more
Nayara Energy, a downstream energy company of international scale announced that it has achieved financial closure for phase one of its expansion plans into petrochemicals. The company signed a financial agreement with a consortium of banks led by State Bank of India for a project term loan of Rs 4,016 crore ($541.7 million). The company … Read more
Royal Dutch Shell plans to buy a 50% stake in Indian-based Nayara Energy’s $9 billion planned petrochemical project, according to a Reuter’s report. Global oil majors are looking at expanding foothold in the vast Indian market, where local refiners are investing billions of dollars to boost their petrochemical capacities. They are looking to meet an … Read more