Finance
After sanctions, Indian oil refiner Nayara's exports find new markets
Published by Global Banking & Finance Review®
Posted on September 26, 2025
4 min readLast updated: January 21, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on September 26, 2025
4 min readLast updated: January 21, 2026
Nayara Energy adapts to EU sanctions by finding new markets for oil exports, using innovative shipping methods to overcome challenges.
By Florence Tan, Nidhi Verma and Trixie Yap
SINGAPORE/NEW DELHI (Reuters) -Russia-backed Indian refiner Nayara Energy is exporting oil products through sanctioned tankers and tapping new markets this month as it revives overseas sales in the aftermath of crippling sanctions, LSEG and Kpler shipping data shows.
The privately-owned company halted exports for about two weeks after it was sanctioned by the European Union on July 18 for dealing in Russian oil.
Nayara's exports of clean products - gasoline, gasoil and jet fuel - fell to around 80,000 barrels per day in August and September - down from about 138,000 bpd in January-July, Kpler data showed.
Nayara has been forced to reduce crude runs at its 400,000-barrel-per-day refinery in Vadinar in western India to 70%-80% of its capacity, sources familiar with the matter said, due to difficulties in chartering ships and selling fuel from the port following sanctions.
Before the sanctions, Nayara sold its refined products mostly to Western, Middle Eastern and Asian trading firms for export to Asia and northwest Europe, according to traders and shipping data.
After the embargo, most Nayara cargoes are bound for the Middle East, Turkey, Taiwan and Brazil, the data showed.
Since resuming exports in early August, at least 16 cargoes of diesel, gasoline and jet fuel have shipped out on EU-sanctioned tankers from Vadinar port, where Nayara's refinery is located, the data showed.
Five of the tankers loaded with Nayara's products in August and September are floating off Oman and the United Arab Emirates, the data showed.
Some of the tankers conducted ship-to-ship transfers off Oman and Egypt. Another two tankers discharged their cargoes at Turkis Enerji Storage Tank Farm in Turkey.
Tankers Blue Ember and Anaya that loaded at Vadinar in August and September respectively, are heading to the Brazilian ports of Santos and Paranagua, the data showed.
Nayara Energy, authorities in Oman, the UAE and Brazil, Egypt's energy ministry and Turkis Enerji did not respond to requests for comment.
Another tanker Opal discharged high-sulphur gasoil loaded from Vadinar on August 22 at Taiwan's Taichung port on September 16, the data showed.
Taiwan's Ministry of Economic Affairs declined to comment. Taiwan has wide-ranging sanctions on Russia, but does not explicitly ban Russian energy imports.
Traders said a major buyer for Nayara's gasoline cargoes to the Middle East is Redwood Global Supply. Reuters could not find contact information for Redwood.
Tanker Cargo Load date Discharge Destination port/Country
date
Tempest Gasoline August August 12 Sohar, Oman
Dream 1-3
Sard Diesel August NA ship-to-ship transfer (STS) with Wu Tai
4-5
Runa Diesel August August STS with unknown vessel off Sohar, Oman
8-10 25-28
Varg Gasoline August September STS with Wu Tai and Petunia/Santa Ana off
11-13 4 and 21 Sohar, Oman
Nova Diesel August September STS with Marble at Damietta, Egypt and
11-14 3-5 and 11 discharged at Turkis Enerji Storage Tank Farm
Blue Diesel August 17 September Santos, Brazil
Ember 25-26
Tempest Gasoline August 20 NA floating off Sohar, Oman
Dream
Opal high-sulph August 22 September Taichung, Taiwan
ur gasoil 16
Blage Diesel August September Turkis Enerji Storage Tank Farm
25-29 12-15
Bela Gasoline September NA floating off Muscat, Oman
2
Blue Diesel September NA floating off Sohar, Oman
Talu 2-6
Xing Diesel September NA Passing Suez canal
Chen 9-12
Runa Jet fuel September NA floating off Khor Fakkan, UAE
12-13
Varg Gasoline September NA STS with Wu Tai off Sohar, Oman
13-14
Sard Gasoline September NA floating off Sohar, Oman
16
Anaya Diesel September October Paranagua, Brazil
14-16 15-16
Source: Kpler, LSEG, trade sources
(Reporting by Florence Tan, Trixie Yap, Nidhi Verma and Mohi Nayaran in New Delhi; Additional reporting by Marta Nogueira in Rio de Janeiro, Ben Blanchard in Taipei, Yousef Saba and Sarah El Safty in DubaiEditing by Tony Munroe and Mrigank Dhaniwala)
Nayara Energy's exports fell due to sanctions imposed by the European Union on July 18 for dealing in Russian oil, which forced the company to halt exports for about two weeks.
After the sanctions, Nayara's cargoes are primarily bound for the Middle East, Turkey, Taiwan, and Brazil, as indicated by shipping data.
Nayara has reduced crude runs at its 400,000-barrel-per-day refinery in Vadinar to 70%-80% of its capacity due to difficulties in exporting its products.
Nayara is exporting clean products such as gasoline, gasoil, and jet fuel, with exports resuming in early August after the sanctions.
Nayara has been utilizing sanctioned tankers for its exports and has conducted ship-to-ship transfers off Oman and Egypt to facilitate its shipping operations.
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