Nayara Energy names Sergey Denisov as new CEO after Des Dorides resigns amid EU sanctions
New DELHI: A week after the European Union announced Russia’s sanctions on the Rosneft -backed Nayara Energy Ltd on Gujarat Refinery, General Manager Alessandro des Dorides resigned.
Nayara said that two people who know the improvements were appointed as the new CEO of the Chief Development Officer Sergey Denisov.
On 18 July, the EU, which aims to increase oil and energy revenues because Russia wanted a long -term war with Ukraine, opened sanctions on 20 million tons of refinery in Nayara’s Gujarat, Nayara.
Desinov would now have to implement Nayara’s investment plans in India.
According to the LinkedIn account, Nayara’s head -development officer Sesinov said, “The latest Vadinar Refinery, which led to a comprehensive 20 billion dollar feasibility study for a new refiner and steam cracker complex, led to great projects.
Nayara did not immediately answer Mint’s queries.
Nayara contributes to about 8% of India’s total refining capacity, 7% of the country’s retail gasoline pump network, and about 8% of its polypropylene capacity.
The company also employs more than 55,000 direct and indirect employees in India. It has the largest fuel station network (6,700) among private oil marketing companies throughout the country.
Des Dorides spent most of his career at the Italian Major SPA in Spa. In March 2024, he became the CEO of Nayara.
Reuters previously reported that Denisov’s appointment was approved on Wednesday.
Nayara’s web page does not list lock managers. Denisov did not immediately respond to messages sent through the LinkedIn account.
Nayara’s India footprint
Data from S&P Global showed that Nayara Energy’s Vadinar refinery has received 403,000 barrels a day so far this year, and 72% of which is the Russian-Orgin raw class.
S&P Global Oil Research, published in South Asian research, Abhishek Ranjan said, “Nayara refinery will create significant difficulties against the last EU against Rosneft, which has approximately 49% of its refinery, because it is first exported to Europe.
Stating that the EU sanctions can force Nayara to look at non -EU markets such as Africa, Latin America and Southeast Asia, S&P Global Commodity Insights said the company may consider supplying its displaced volumes to domestic markets.
Returning to the sanctions of the European Union on July 21, Nayara reiterated India’s commitment to energy security and long -term growth and announced their plans to invest. LaPetrochemicals, ethanol plants, marketing infrastructure and other projects are 70,000 Crore in the long term.
Nayara also said that the EU’s actions have weakened India’s sovereignty and ignored global norms.
Nayara, who defines the movement of the European blog as a unquestionable, unilateral and violation of international law, said that it actively explored legal options and will resist the EU’s decision.
Denisov joined the company two months after Rosneft acquired 49.13% of Essar Oil LTD, one of the Essar Energy Holdings LTD and his subsidiary.
Before that, the British oil and gas company BP PLC was with. For more than six years.
Nayara expanded the retail footprint in India and increased the number of output from 6,570 to 6,760 for a year. According to S&P global commodity InSights data, 82% of diesel and 65% of gasoline production were sold in Turkey.
