Rosneft-backed Nayara Energy Ltd is planning to increase the number of its fuel retail outlets with a focus on rural areas and new highways, even as it explores ways to expand its compressed natural gas (CNG) business, its chief marketing officer Madhur Taneja said.
Currently, the refining and oil-marketing company has a network of 6,500 outlets across Gujarat, Rajasthan, Maharashtra, Karnataka, Tamil Nadu, Kerala, Andhra Pradesh, Odisha and Telangana.
“So we are at 6,500 retail outlets right now. You can look at our past performance and try to do your algorithms and numbers. We are usually shy about making claims and then trying to chase those numbers. But yes, our past performance, if it is a barometer, you would see us growing and definitely taking a fair share of the market. The market is looking extremely strong, so you can expect us to definitely participate and take a fair share from that market,” he said.
In August 2017, Ruias-owned Essar Group sold Essar Oil, its refining and fuel retailing business, to Russian oil giant Rosneft and an investment consortium led by global commodity trading firm Trafigura and UCP Investment Group for ₹86,000 crore. Essar Oil was rebranded as Nayara Energy following its takeover.
Full story Rosneft’ Nayara Energy plans expansion of retail fuel outlets, CNG business | Qrius
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