Nayara Energy Ltd. (formerly known as Essar Oil Ltd.) is engaged in the exploration and production of oil and natural gas, refining of crude oil, and marketing of petroleum products. It is into the business of exploration and production of oil and refining and marketing. The firm owns refinery with a capacity of 20 million metric tonnes per annum (MMTPA), or 405,000 barrels per day at vadinar, gujarat. It also manages a fuel retail business. The company was incorporated in 1989 and is based in Mumbai, Maharashtra with a registered office in Gujarat. Nayara Energy Ltd. operates as a joint venture between Rosneft, Trafigura Ltd. and United Capital Partners Mauritius Ltd.
In FY22 company has introduce a total of 9 new crudes into our crude basket, including 8 ultra-heavy grades. In fact, the total number of crude grades processed at their refinery now stands at 126. They also succeeded in carefully unwinding refinery unit constraints to process tougher crude grades. Further, by optimising gasoline, LPG and other higher-margin products, they are able to improve margins. The sale of solids also helped the Company benefit from increased pricing. The shift from Natural Gas to alternate fuels (naphtha and LPG) during the historically high spot LNG price turned out to be a timely measure that saved production costs. During the year, they achieved the highest-ever annual LPG production.