Synopsis
In August, Reuters had reported that Royal Dutch Shell plans to buy a 50% stake in Nayara Energy's up to $9 billion planned petrochemical project.
Reuters
Nayara Energy, formerly Essar Oil, has tied up with energy major Shell to sell the latter’s lubricants through its network of fuel stations across the country, the companies said in a joint statement on Monday.
Nayara Energy has a fuel retail network of over 5,900 fuel stations in India and aims to scale it up to 7,300 stations by 2022.
“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,” B Anand, chief executive officer, Nayara Energy, was quoted as saying in a statement.