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Reliance Explores Stake in Rosneft's Nayara Energy
Hindustan Times Ranchi
|June 30, 2025
Nayara Energy operates a 20-million tonnes-a-year oil refinery in India
NEW DELHI: Russian oil giant PJSC Rosneft Oil Company is in early talks with Reliance Industries for sale of its 49.13% stake in Nayara Energy, which operates a 20-million tonnes-a-year oil refinery and 6,750 petrol pumps in India, people familiar with the matter said.
Reliance has held preliminary talks for acquisition of Nayara, which will help it overtake state-owned Indian Oil Corporation (IOC) to become India's No. 1 oil refiner as well as give a meaningful presence in the fuel marketing space.
But the talks are at a preliminary stage and there is no guarantee that they may lead to a definite deal as valuation remains a sticky ground, three people with direct knowledge of the matter said.
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