India's Huge Nayara Refinery Focuses On Domestic Market As Sanctions Hit Hard

Private Indian refiner Nayara Energy is scrambling to adjust after being placed under EU sanctions on July 20 as part of Brussels’ 18th sanctions package. These measures, tied to Rosneft owning a 49% stake in the company, prompted CEO Alessandro Dorides (an Italian national) to resign, with Russian-born Sergey Denisov stepping in as his replacement – a leadership change as a direct result of the sanctions. The centrepiece of Nayara’s operations is the 400,000 b/d Vadinar refinery in northwest India, the country’s second-largest…