India: Rosneft has ambitious expansion plans for Nayara Energy

The Russian powerhouse plans to increase the current network of stations by 2,000 in the next year.

Nayara Energy, owned by Russian oil giant Rosneft, is expanding its fuel retail network nearly two years after the company acquired Essas Oil’s assets.

In August 2017, Rosneft acquired Essar Oil for $12.9 billion and renamed it Nayara Energy. The deal included a 20-million-tonnes-a year oil refinery in Gujarat and over 4,000 fuel stations.

“Today we have more than 5,000 fuel retail outlets in the country and we plan to increase the network to over 7,000 by 2020," explained B. Anand, CEO, Nayara Energy to livemint in an email.

All stations currently operate under the Essar brand name.