Alois Virag is the new CEO of Nayara Energy; incumbent Anand elevated as president

Rosneft owned Nayara Energy, announced the appointment of new chief executive officer of the company, Alois Virag, effective April 1. This appointment follows the elevation of current chief executive officer B Anand as the president of the company.

“In his new role Anand will be responsible in developing strategic partnerships in the energy market, strengthening engagement with stakeholders, including government and policymakers, along with accelerating the sustainability initiatives”, the company said. Nayara Energy is the largest private-sector oil retailer in the country. In August 2017, Ruia’s owned Essar Group sold Essar Oil, its refining and fuel retailing business to Russian oil grant Rosneft. An investment consortium was led by global trading firm Trafigura and UCP investment group for over Rs 86,000 crore.

The company also owns nation’s second-largest single-site refinery at Vadinar in Gujarat. It’s current capacity is about 20 million tonne and it sells fuel through 6,000 outlets throughout the country.

Nayara Energy appoints new CEO; incumbent Anand elevated as president

Virag joined Nayara from Austrian integrated oil and gas company, OMV where he worked as the senior vice-president for downstream business for Middle Eastern and Asian operations. He has over three decades of industry experience in refining and petrochemicals and not to mention a doctorate from Vienna Institute of Technology.

“His expertise in leading complex capital projects, turnaround and digitalization along with his fuel marketing and retailing experience makes him a great fit in driving Nayara’s growth plans in India,” Tony Fountain, executive chairman of the company said.

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