Rosneft in early conversations with Rellence for Sale Sale in Nayara Energy: Report

The Russian Pjsc Rosneft Oil Companyy Oil Company started initial discussions with the Rellece Industries (RIL) to sell its 49.13 percent stake in Nayara Energy, which runs an oil refinery of 20 million tons annually and 6,750 Petroleum pump across India. The potential acquisition can rely on the major oil refinery in India, and the state -run Indian oil company (IOC) has exceeded, and its significant presence in the fuel market in the country has increased.

However, negotiations remain at an early stage, and there is no certainty that they will be crowned in a deal with the continued evaluation differences, three sources stated with direct knowledge of the issue.

Rosneft executives visited India at least three times during the past year, where they held talks in cities, including Ahmedabad and Mumbai, with potential investors.

Western sanctions have hindered Rosente’s ability to return profits from India, which prompted her decision to search for a way out of Nayara. The sources said that the appropriate buyer will have significant revenue flows abroad, which allows quick batches across the border to the arbitrator.

“As a policy, we do not comment on the speculation of the media. The rumors. Our company evaluates many opportunities on a continuous basis. We have made and will continue to make the necessary disclosures according to our obligations under the Securities Performance Council in India (inserting obligations and requirements for disclosure) for the year 2015 and our agreements with shares exchanges.”

Rosneft acquired Essar Oil, which was later renamed Nayara Energy, in 2017 for $ 12.9 billion, but struggled to extract full financial advantages due to sanctions. The Russian pioneer decided to get out of Nayara in 2024, when UCP Investment Group also sold its 24.5 percent share. Sources said that the other main stakeholders in the Trafigura group owns 24.5 percent and may come out if a deal is embodied.

Rosneft and UCP have offered their shares on Reliance, Adani Group, SAUDI ARAMCO and ONGC/IOC, but the evaluation of $ 20 billion considered most of them. Adanyi, noting the evaluation fears and existing obligations with the kidneys that limit fossil fuel investments in natural gas.

The Saudi Aramco is still a dangerous competitor, looking for the river course assets in India, although it is also considered a price of $ 20 billion.

The acquisition of Nayara will give accreditation, which already runs 68.2 million tons of refining capacity in Jamnagar, a total capacity of more than 80.8 million tons of IOC and a stronger feet in fuel trade.

ONGC and IOC are estimated at the Nayara marketing network of no more than $ 2.5-3 billion and its refinery is similarly. For the procedure, the value of the marketing network alone can be about 5.5 billion dollars, as the refinery symbolism is likely to add $ 5 billion.

According to Rosneft, Rosneft cut its rating to $ 17 billion, however this remains higher than that many potential buyers want to pay. No official agreement was reached, and no official statement was issued confirming the sale.

(With PTI inputs)