How the Ukraine war reshaped India's oil landscape
In 2024, the European Union hit Nayara Energy—India's second-largest refinery—with sanctions because Rosneft holds a 49% stake in the company.
The move directly targeted Nayara's giant Vadinar refinery, forcing quick changes in leadership and how the company does business.
Nayara's pivot to Russian crude
After the sanctions, Nayara swapped out its CEO and stopped buying crude from Saudi Arabia and Iraq by July.
Now it's relying almost entirely on Russian oil, which brings its own set of shipping and payment challenges.
To keep things moving, Nayara shifted focus to selling fuel within India and other non-EU countries—making good use of its 6,600+ fuel stations across the country.
Wider impact on India and energy market
Nayara handles about 8% of all oil refining in India, so these changes ripple out fast.
Their pivot is part of a bigger trend: Indian energy companies are having to rethink their strategies as global politics keep shifting.
Even with all these hurdles, Nayara still plays a key role in powering up everyday life across India.