India’s Nayara fallout
The EU’s Russia sanctions could have far-reaching implications for India’s Vadinar-based refinery
India’s 400,000-b/d Nayara Energy refinery, located in Vadinar, finds itself at the centre of deepening geopolitical tension. It is facing operational and commercial challenges due to the European Union (EU)’s latest sanctions targeting Russia and associated entities. Russia’s biggest oil company, Rosneft, has a 49.13% stake in the refinery. Nayara, along with its backers in India and Russia, has condemned the EU move and asserted that the refinery primarily serves the domestic Indian market. While it is too early to assess the long-term implications of the measure, there are increasing signs that its business partners are pulling back, impacting its ability to export and raise international
Also in this section
17 February 2026
The 25th WPC Energy Congress, taking place in Riyadh, Saudi Arabia from 26–30 April 2026, will bring together leaders from the political, industrial, financial and technology sectors under the unifying theme “Pathways to an Energy Future for All”
17 February 2026
Siemens Energy has been active in the Kingdom for nearly a century, evolving over that time from a project-based foreign supplier to a locally operating multi-national company with its own domestic supply chain and workforce
17 February 2026
Eni’s chief operating officer for global natural resources, Guido Brusco, takes stock of the company’s key achievements over the past year, and what differentiates its strategy from those of its peers in the LNG sector and beyond
16 February 2026
As the third wave of global LNG arrives, Wood Mackenzie’s director for Europe gas and LNG, Tom Marzec-Manser, discusses with Petroleum Economist the outlook for Europe’s gas market in 2026
