India’s refining security hinges on strategic stockpiles of chemicals, not just crude: Nayara Chairman

India must not only expand its strategic petroleum reserves but also build dedicated storage for chemicals and catalysts—critical to refinery operations—to shield against geopolitical shocks, said Prasad Panicker, chairman of sanctioned refiner Nayara Energy, which is grappling with supply disruptions after EU curbs.

Rosneft-backed Nayara Energy is facing challenges in importing non-Russian crude and in exporting refined products, affecting its runs. It is also reportedly dealing with shortages of chemicals and catalysts as sanctions have blocked supplies from key European vendors.