Newly sanctioned Indian refiner Nayara skips naphtha export tender award, say sources
This is the first case of the private refiner skipping the award of a tender since the European bloc released its 18th package of sanctions last week, which included Nayara Energy, part-owned by Rosneft (ROSN.MM), opens new tab.
Nayara, which operates a 400,000 barrels-per-day refinery in western Gujarat state, had revised the terms and sought advance payment or a letter of credit for sale of the 33,000–35,000 metric ton cargo scheduled for August 14-18 loading.
The tender closed on Monday.
Nayara did not immediately respond to Reuters' emails seeking comment.
A tanker chartered by energy major BP left a port run by Nayara Energy without loading, a sign fresh European Union curbs on Russia are beginning to bite.
Nayara has condemned the EU's decision to impose sanctions on the company as "unjust and unilateral".
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