Nayara Energy exports drop 22%

New Delhi Nayara Energy, India’s largest private fuel retailer, on Friday said its petroleum product exports dropped by 22 per cent in the first nine months of 2023 as domestic consumption rose.

Nayara, which operates a 20 million tonne a year oil refinery at Vadinar in Gujarat and a network of over 6,450 petrol pumps, exported 4.57 million tonne of petroleum products including jet fuel, gasoil (diesel) and gasoline (petrol) between January-September 2023 as compared to 5.88 million tonne in January-September 2022, the firm said in a statement. This was primarily because of larger consumption at home. The company is catering to the domestic market through institutional business, sales to other oil companies and through its own retail chain.