2024-12-02 21:49:57 :
Rosneft-backed Nayala Energy Ltd is planning to increase the number of its fuel retail stores, focusing on rural areas and new highways, its chief marketing officer Madhur Taneja said. The company is also exploring ways to expand its compressed natural gas (CNG) business. .
The refining and petroleum marketing company currently has operations in the states of Gujarat, Rajasthan, Maharashtra, Karnataka, Tamil Nadu, Kerala, Andhra Pradesh, Odisha It has 6,500 sales outlets in the states of Telangana and Telangana.
“So we have 6,500 retail stores now. You can look at our past performance and try to do your algorithms and numbers. We’re usually shy about asking and then trying to chase those numbers. But yeah, our past performance “If it’s a barometer, you’re going to see us growing and definitely taking our fair share of the market, and the market is looking very strong, so you can expect that we’re definitely going to be participating and taking our fair share from that market.”
In August 2017, Ruias’ Essar Group sold its refining and fuel retail business Essar Oil to Russian oil giant Rosneft and an investment consortium led by global commodities trading company Trafigura and UCP Investment Group. $860 billion rupees. Essar Oil was acquired and renamed Nayara Energy.
expansion boom
Taneja said the company would look to expand its business by adding new retail outlets and improve services through the development of new business models such as “home delivery”, using technology and boosting business through existing customers.
“We’re going to drive our business through two levers. One, of course, is to continue to expand the network so that we make this particular product more accessible because convenience and accessibility are going to be the pillars. So, we’re going to have to say that , with the emergence of new highways, the retail network in India will also continue to evolve as the second pivot will be around the existing infrastructure. We are indeed seeing millions of transactions taking place, over 150 million transactions per month ( In Nayara fuel stores), those deals are important to us, and for us it’s going to be how we use the technology to bring that joy to customers,” he said.
As the company looks to come up with new business models including home delivery of fuel, he said he expects progress on this front. He also noted that the company is conducting pilots for a number of services, including providing vehicles and tires, lubricants, food and convenience services to customers, adding that these services are currently mainly in the exploratory phase.
On the expansion of the CNG business, Taneja said the business remains small and CNG is sold along with petrol and diesel at a few sales points. The company will explore the possibility of co-locating CNG and petrol stations.
“There will be alternative energy sources, battery charging, etc., those are all going to come up, and some parts of CNG will continue to come up. There will definitely be more developments. And currently, the percentage contribution of other revenue streams (e.g., CNG, batteries) is very important to the industry It’s not even 0.1%, and I think it’s a market that we should be watching very closely, and this (alternative energy) is going to grow…our experience is that if you juxtapose CNG and gasoline, then. There are conflicts in client profiles, one of which adversely affects the other…” Taneja said.
On Nayara Energy’s plans to set up two new ethanol plants in the country, he said the company has already purchased two plots of land in Madhya Pradesh and Andhra Pradesh. Nayara has announced the construction of a factory, with a cumulative investment of $6 billion rupees. This is in line with the government’s plan to blend 25% ethanol in petrol by 2025. He also said that while the company was still considering and evaluating the production of sustainable aviation fuel, it was part of its larger environmental, social and governance (ESG) strategy.
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