Nayara Energy Clocks 10 Per Cent Fall In Exports In 2023 On High Domestic Demand

India's premier private fuel retailer, Nayara Energy, clocked a decline of 10 per cent in petroleum product exports in 2023, attributed to a shift in focus towards meeting the escalating fuel demands of the domestic economy, media agencies reported citing sources. From January to December 2023, Nayara exported 6.21 million tonnes of petroleum products—a 10% decrease from the previous year—from its operational 20 million tonnes per annum oil refinery in Vadinar, Gujarat, along with an extensive network of over 6,500 petrol pumps carrying jet fuel, gasoil (diesel), and gasoline (petrol), reported PTI citing sources. This was attributed to the high level of consumption at home, as the firm provides services to the local market via institutional business, retail businesses, and sales to other oil companies. The report said that approximately 68 per cent of Nayara's petroleum products found their way into the domestic market, while the remaining 32 per cent, comprising ATF, gasoil, and gasoline, were exported.