“Over the past five years, the number of its fuel retail outlets have tripled. The company added around 600 retail outlets in the last fiscal year. Since October 2020, Nayara Energy has been launching new retail outlets with the Nayara brand and has already unveiled more than 200 new Nayara Branded fuel retail outlets in the country,” a company statement said.
Commenting on the development, B Anand, CEO, Nayara Energy said, “In financial year 2019-2020, the retail business generated 18 per cent year-on-year volume growth. Nayara Energy aims to maintain the growth trajectory of the retail network and further expand to 7,600 fuel retail outlets by the end of 2024. We are expecting domestic demand for gasoline (petrol) and gasoil (diesel) returning to pre-COVID levels by the first half of 2021.’’
“As the fastest growing pan-India private fuel retail network, we are committed to meeting the growing needs of mobility and convenience, and elevating our customer experience,” Stephan Beyeler, Chief Marketing Officer, Nayara Energy said.
Nayara Energy said that its fuel retail outlets have customer-centric services and facilities including quick lube change service, nitrogen filling facilities, hygienic restrooms, quality-assured drinking water, digital payment options and multi-specialty customer service centres. For its fleet customers, the company offers Fleet Plus, which is India’s first digital loyalty program.
In October 2016, Russia’s Rosneft and a consortium led by Trafigura entered into a deal with the Essar group to acquire Essar Oil’s refining and retail assets for $10.9 billion and also acquire Vadinar port and related infrastructure for another $2 billion.
The majority stake in Essar Oil was acquired by Rosneft and a consortium led by Trafigura and UCP in August 2017. The company was subsequently rebranded as Nayara Energy. It operates India’s second largest single-site refinery, with eight per cent of the country’s total capacity in the segment.