Nayara Energy, India’s biggest private fuel retailer, plans to expand its network of petrol pumps by one-fourth to 7,300 in the next 1-2 years before hitting a pause button to assess demand, its Chief Executive Officer B Anand said on Wednesday. Speaking at the India Energy Forum of CERAWeek, he said the company, which owns and operates an oil refinery with a capacity of 20 million tonnes a year at Vadinar in Gujarat, is looking at venturing into petrochemicals to buffer margins.
Russian oil giant Rosneft-backed firm has about 5,800 petrol pumps across the country now, which it plans to expand to 7,300 in a year or two before “taking a pause and look at how the Indian consumer story grows”, he said.
