Nayara Energy reduced the loading of her plant to Vadina to 70-80% after the introduction of EU penalties on July 18.
Nayara Energy Indian Oil Refinery, under the control of Russia’s shareholders, reduced its plant capacity in Vadina after the European Union on July 18 which imposed new sanctions against Russia and energy sectors. Reuters reported that there was a reference to some interlocutors that were familiar to the situation.
According to the two sources, the penalties for exporting Nayara’s oil products are complicated, which has caused excessive storage facilities. Other resources prove that traders have become more careful in working with the company.
According to the latest data, an oil refinery with a capacity of 400 thousand barrels per day operates 70-80% of the nominal load, even in the period from April to June Nayara exceeds 100% load according to government data.
Last week, at least two tanks were canceled the planned loads to the Vadinar port, while another Tanker with Russian Urals oil was redirected to another port of India.
Nayara Energy, a private company with headquarters in Mumbai, controls about 8% of Indian processing capacities and monthly exports of more than 4 million barrels of oil products, including diesel, gasoline, aviation fuel and oil.
Shortly after the imposition of the penalties, the general director of Nayara resigned, his place was taken by Sergey Denisov, a former director of development.
In addition, Nayara reported on Monday that she filed a lawsuit against Microsoft after stopping the service of the American IT Giant company. The company did not give comments on the situation with capacities.
Penalties affect the company’s access to financing. Nayara started requesting a preliminary payment or letter of shipping commodity prior to the shipping of the product. As a result, entrepreneurs doubt further participation in the company’s tenders, as it contradicts the standard skills of calculations with a delay of 15-30 days.
Against the background of the penalties, market participants hope that the caring of the ship will be able to follow the banks, as well as trade counterparts. The European Union pointed out that the prohibition was entering the strength on January 21, 2026, but the market began to respond.
Previously a Russian state company Rosneft I hate the penalties in Europe against Indian Oil Refinery Nayara Energy.
Rosneft is considered “baseless and illegal” penalties, as well as “another example of extraterritorial application of political restrictions.”
According to Bloomberg, Rosneft owns a portion of Indian oil refinery for 49%. Nayara Energy reduces about 400 thousand barrels of oil per day and owns about 7,000 outlets for the sale of gasoline throughout India. He also develops a combined petrochemical plant adjacent to his oil refinery.
As you know, on July 18, the European Union approved 18 packages of sanctions against Russia. One of its key points is a significant decrease in the ceiling of Russian oil prices.
News from CORRESPONDENT.NET On the telegram and whatsapp. Subscribe to our channels https://t.me/KorresPondentNet and WhatsApp
Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.