New Delhi, February 15 - Neftegaz.RU. Indian Nayara Energy Limited (49.13% is owned by Russian Rosneft) has expanded its retail network almost by 20% to 5,000 fuel-filling stations over the past year.
Nayara Energy has achieved significant increase in its share in the growing Indian market. For 4 years the number of filling stations of the company has increased more than 3 times. The company intends to maintain its pace of the retail business development in India. The short-term plan includes possible expansion of the fuel-filling stations network in India up to 7,000 units.
Due to the steadily growing domestic demand for higher added value products, the availability of the retail market outlet for petroleum products adds to both production and financial performance of the asset. According to the IEA forecast, the Indian motor-vehicles industry will demand 132 mtoe of petroleum products per annum by 2040.
Nayara Energy Limited is a high-class asset featuring Indian refineries and a chain of filling stations. Rosneft and a consortium of international investors Trafigura and UCP Investment Group acquired the asset from Essar Energy Holdings in August 2017. This provided an entry for Rosneft into one of the fastest-growing world markets.
To read the article in Russian.