MOSCOW, September 17. /TASS/. Rosneft and the Indian side have discussed the issue of increasing oil supplies to Indian refineries, particularly the consortium of investors Nayara Еnergy is considering the possibility of doubling refining throughput at Vadinar Refinery, Russia’s oil major said in a statement following the visit of Chief Executive Officer Igor Sechin to India.
"Another area of discussion was the plan of the consortium of investors including Rosneft for the further development of Nayara Energy (Rosneft holds 49.13% - TASS). The consortium is reviewing an option of a two-fold increase of the refining throughput at the Vadinar Refinery. In the first stage, the consortium commits to investment of $850 million towards the building of a petrochemical unit in Vadinar within two years," Rosneft said.
In August 2017, Rosneft, together with a consortium of international investors, which includes Trafigura and UCP, acquired Nayara Energy Limited (earlier Essar Oil).
Nayara Energy owns India’s second-largest private oil refinery (in the city of Vadinar) with the capacity of 20 mln tonnes per year, an oil storage, a port and a network of gas stations (roughly 4,800 stations).