Nayara Energy, formerly known as Essar Oil, an integrated downstream energy company has inked a pact with Shell Lubricants to retail the latter's range of lubricants in India. The partnership will see Shell's premium Ultra engine oils available at Nayara and Essar fuel stations across the country. At present, Nayara has about 5,900 fuel stations in India and is one of the fastest-growing private fuel retail networks. The company plans to scale up its presence to 7,300 fuel stations in the country by 2022 and has already opened over 200 Nayara fuel stations since October this year.
Speaking on the tie-up, B. Anand, CEO, Nayara Energy said, "The partnership of Nayara Energy and Shell Lubricants will leverage the combined strength of both brands to offer world-class products and services to cater to evolving needs of our customers across the country while reinforcing Nayara Energy's commitment to excellence across the value chain.''
Raman Ojha, Country Head, Shell Lubricants India, added, "Our customers are always at the heart of all our efforts. Our partnership with Nayara Energy is a testimony to our shared principles and like-minded approach towards delivering maximum satisfaction, in line with the evolving needs of our consumers. With this partnership, we will also expand our presence in the lubricants market across India bringing our world-class technology, products and service offerings to a much larger number of consumers. There is great potential for further growth in the Indian market, especially in non-metro cities, which we intend to service through this partnership."
The announcement comes at a time when rumours are rife about the Royal Dutch Shell planning to buy a 50 per cent stake in Nayara Energy's planned petrochemical project for $9 billion. The new project will reportedly be built in Vadinar in Gujarat and will be based on 1.8-million metric tons/year (MMt/y) steam cracker and downstream units. The project is also expected to have an aromatics complex and an overall capacity to produce 10.75 MMt/y of petrochemicals, according to a report by Reuters. Both companies, however, haven't confirmed on the same.