Nayara Energy reaches 6,000 petrol stations in India
The growing fuel retailer, backed by Rosneft and Trafigura, has plans to reach 7,600 sites by 2024.
International energy company Nayara Energy now has a network of 6,000 fuel retail outlets operating across India. In the last five years, the company has tripled its network – adding 600 sites in 2020 only.
“In FY19-20, the retail business generated 18% year-on-year volume growth. Nayara Energy aims to maintain the growth trajectory of the retail network and further expand to 7,600 fuel retail outlets by the end of 2024 to secure the rising energy demand of India’s population. We are expecting domestic demand for gasoline and gasoil returning to pre-covid levels by the first half of 2021,” said B Anand, CEO, Nayara Energy.
Nayara Energy operates a dealer owned dealer operated model, enabling fast expansion of retail network across the country. Since October 2020, they have already opened 200 branded stations.
In August 2017, the Indian company was acquired by international investors including Rosneft Oil Company and an investment consortium comprising of global commodity trading firm Trafigura and UCP Investment Group.
