Nayara Energy share in Indian bulk diesel business expands over 4x

Rosneft-backed refiner Nayara Energy has more than quadrupled its share in the Indian bulk diesel business in a year to 8.5%, according to the industry sales data for August.

Nayara’s share was 1.9% in August 2022 and 2.7% in the same month of 2021. Reliance Industries’ 13.2% share in August is also a sharp improvement over 9.1% in 2022 and 9.3% in 2021. The private sector doubled its share to 21.7% in a year as state-run companies’ share declined to 78.3% from 89%. The overall bulk diesel sales grew 115% in August from a year earlier, compared to a growth of 5% last year.