Nayara Energy requests govt to provide vessels to ferry refined fuels

 

Russia-backed private refiner Nayara Energy, which was recently sanctioned by the European Union, has reportedly sought help from India’s shipping ministry to get vessels for the movement of its refined fuels. Nayara is said to be struggling to get vessels for the supply of refined fuels for its retail stations in India. The private refiner has already cut crude runs at its refinery. Since the EU’s sanctions, Nayara has faced shippers asking for termination of contracts and Microsoft briefly suspending critical services. The ministries of shipping, oil and foreign affairs are reportedly looking into Nayara’s request. New Delhi is exploring the possibilities of arranging India-flagged vessels of local companies for private refiners. Vessel owners are citing problems, including availing insurance cover for undertaking voyages for Nayara, as per a report.

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