Reliance, Nayara to gain from European energy crisis: Report

The ongoing energy crisis in Europe is expected to benefit Reliance Industries and Nayara Energy as these are among the Asian refiners that produce winter-specification diesel for the European Union, according to a report.

State-owned oil companies are not into exports and that gives an advantage to Reliance — the largest importer of Russian crude and also the largest exporter of diesel from the country — and Russia’s Rosneft-owned Nayara.