Latest news with #Nayara
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Business Standard
7 hours ago
- Business
- Business Standard
Delhi HC to hear Nayara's plea for service restoration from Microsoft
The Delhi High Court on Monday agreed to hear oil refining and marketing company Nayara Energy's plea against Microsoft Corporation (India), in which the former alleges that the global software giant abruptly and unilaterally suspended essential services without any prior warning. Nayara, which is backed by Russian investment, has moved the court seeking an interim injunction and immediate restoration of services to protect its rights and ensure continued access to crucial digital systems. According to Nayara, Microsoft did not discuss or notify the company before cutting off services. 'They (lawyers for Nayara) have submitted that due to the unilateral decision taken by the respondent (Microsoft), whereby they have stopped providing services to the petitioner, the petitioner is immensely prejudiced,' Justice Purushaindra Kumar Kaurav noted in his order. 'In the meantime, the respondent be directed to continue providing services under the Microsoft Business and Service Agreement (MBSA),' Nayara prayed before the court. The oil marketing company also contended that such a unilateral decision by Microsoft is unacceptable in law.
Reuters
8 hours ago
- Business
- Reuters
Exclusive: Shippers ask to end contracts with Russian-backed refiner Nayara, sources say
NEW DELHI, July 29 (Reuters) - The owners of three vessels chartered by India's Nayara Energy have asked to end their contracts with company, six sources familiar with the matter said on Tuesday, under pressure from EU sanctions imposed on the Russian-owned refiner. Nayara, majority-owned by Russian entities including oil major Rosneft ( opens new tab, runs India's third-biggest refinery and exports refined products and also supplies them domestically. Fresh European Union sanctions unveiled on July 18 that target Russia and its energy sector over Moscow's war in Ukraine, have been increasingly disruptive to Nayara. Reuters earlier reported it has been forced to reduce operations at its 400,000-barrels-per-day refinery due to fuel storage constraints. India-based Seven Islands Shipping Ltd ( opens new tab and Great Eastern Shipping Co ( opens new tab (GESCO) have asked Nayara to release the three clean products tankers from their contracts, citing concerns over the sanctions, five of the sources told Reuters. Seven Islands is seeking the release of its medium-range vessels Bourbon and Courage, while GESCO has sought the return of the Jag Pooja, the sources said. The sources declined to be named as they were not authorised to speak to the media. Mumbai-based Nayara did not immediately respond to a Reuters request for comment. It has previously criticised the EU sanctions, calling them "unjust and unilateral". Seven Islands and GESCO did not immediately respond to requests for comment. Bourbon is anchored near Vadinar port in western India, where Nayara's refinery is based, while Courage and Jag Pooja are floating off Kochi and Ennore ports, respectively, data from analytics firm Kpler showed. Another tanker, Sanmar Songbird, chartered by Indian state refiner Hindustan Petroleum Corp ( opens new tab, was scheduled to load gasoline from Nayara on Tuesday, according to three sources and LSEG data. But it has since been diverted to load from Mangalore Refinery and Petrochemicals Ltd ( opens new tab, sources said. The diversion was due to the sanctions and the lack of available insurance cover for the voyage, they said. HPCL and Sanmar did not immediately respond to requests for comment. India has become the biggest importer of Russian seaborne crude since Moscow launched its full-scale invasion of Ukraine in early 2022. Last week, Reuters reported that a tanker carrying Russian Urals crude was diverted from Nayara's Vadinar port following the EU sanctions announcement, while two other tankers skipped loading refined products there. Nayara's CEO resigned in the wake of the new sanctions, and the company filed a court case in India against Microsoft (MSFT.O), opens new tab after the U.S. software giant suspended services to the firm.
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Business Standard
8 hours ago
- Business
- Business Standard
Indian shipowners urge Nayara to end vessel charters after EU sanctions
At least three India-based shipowners have asked Nayara Energy to terminate their ongoing vessel charter agreements following recent European Union (EU) sanctions against the refiner, according to a Reuters report. The companies are said to be seeking a way out of their contracts amid rising concerns over possible exposure to regulatory risk. Nayara Energy, which is significantly owned by Russian entities including Rosneft, has come under renewed scrutiny after being targeted by EU sanctions earlier this month for its ties to Russia's oil trade. The shipowners' move reflects growing caution in the Indian shipping industry over associating with sanctioned entities. It is important to mention that there is no direct legal obligation under Indian law to comply with European sanctions. Legal battle with Microsoft The development comes after Nayara filed a petition in the Delhi High Court against Microsoft, alleging that the US-based technology firm had abruptly cut off access to its licensed digital services without prior warning or discussion. 'Microsoft is currently restricting Nayara Energy's access to its own data, proprietary tools, and products -- despite these being acquired under fully paid-up licences,' the company said in a statement. Nayara described the action as unilateral and taken 'under the guise of compliance,' arguing that Microsoft has no obligation under US or Indian law to enforce EU sanctions. According to Reuters, the software giant suspended Nayara's access to essential communication and collaboration platforms --including email and Microsoft Teams -- last Tuesday (July 22). The disruption has reportedly affected internal operations and communication across the company. Nayara's petition seeks an interim injunction and immediate restoration of services. 'This action has been taken unilaterally, without prior notice, consultation or recourse,' the company said, adding that it was a direct violation of its rights as a paying customer. 'Microsoft is currently restricting Nayara Energy's access to its own data, proprietary tools, and products—despite these being acquired under fully paid-up licences,' the company said in a statement. Nayara said the abrupt suspension—affecting tools such as email and Teams—was taken without consultation and described the action as being carried out 'under the guise of compliance.' The company is now seeking a court injunction to restore access. Emphasis on growth Despite mounting challenges, Nayara has underscored its strategic importance to India's fuel and energy sector. The company contributes approximately 8 per cent of the country's total refining capacity and operates about 7 per cent of India's retail fuel outlets. It is also in the process of developing nearly 8 per cent of the nation's polypropylene production capacity. In a statement, Nayara reiterated its commitment to ensuring uninterrupted fuel supply across the country. Guided by the philosophy 'In India, for India,' the company's focus remains largely on domestic operations, including sales through retail stations, supply to institutional clients, and collaborations with other oil marketing firms. Nayara is also expanding its footprint in petrochemicals and clean energy, supporting employment generation and long-term industrial growth.
Yahoo
10 hours ago
- Business
- Yahoo
Exclusive-Indian owners of three ships ask sanctions-hit Nayara Energy to release the vessels, sources say
By Nidhi Verma and Mohi Narayan NEW DELHI (Reuters) -The Indian owners of three vessels chartered to Nayara Energy have asked the Russian-backed firm to end their contracts following recent European Union sanctions on the refiner, six sources familiar with the matter said on Tuesday. India-based Seven Islands Shipping Ltd and Great Eastern Shipping Co (GESCO) have asked Nayara to release the three clean products tankers, citing concerns over the sanctions, five of the sources said. The medium-range vessels are the Bourbon and Courage, owned and managed by Seven Islands, and GESCO's tanker Jag Pooja, sources said. The sources declined to be named as they were not authorised to speak to the media. Mumbai-based Nayara, Seven Islands and GESCO did not immediately respond to requests for comment. Lack of access to ships is hampering efforts by the Indian refiner to sell its refined-fuel stocks, which are building up. The EU sanctions package unveiled on July 18 against Russia and its energy sector have forced Nayara to reduce operations at its 400,000 barrels per day (bpd) refinery due to storage constraints, Reuters reported earlier on Tuesday. Privately held Nayara, which runs India's third-biggest refinery at the port of Vadinar in the western state of Gujarat, controls nearly 8% of the country's total refining capacity of about 5.2 million bpd. Nayara, majority-owned by Russian entities including oil major Rosneft, exports refined products and also supplies them domestically. Nayara operates more than 6,000 fuel stations.
Yahoo
10 hours ago
- Business
- Yahoo
Russia-backed Nayara taps Indian IT firm after Microsoft suspends service, sources say
By Nidhi Verma NEW DELHI (Reuters) -Russia-backed Indian refiner Nayara Energy, recently sanctioned by the European Union, has turned to domestic firm after the U.S. tech giant Microsoft suspended IT services, three sources familiar with the matter said. Nayara, which has condemned the sanctions, said on Monday it had filed a case against Microsoft in the Delhi High Court over its withdrawal of services. Nayara, a major buyer of Russian oil that is 49% owned by Russian oil major Rosneft, has struggled with disruptions since coming under European Union sanctions this month targeting Russia over its war in Ukraine, including trimming refinery runs. Sources told Reuters that since last Tuesday, Microsoft had halted services for Nayara, and that employees' Outlook email and Teams messaging accounts had not been working. The service can facilitate communications among Nayara employees but cannot retrieve data and previous emails stored on Microsoft's cloud, sources said. The sources spoke on condition of anonymity as they were not authorised to speak to media. Nayara and Rediff did not immediately respond to requests for comment. Mumbai-based Rediff offers online consumer services and also provides cloud-based email services for businesses. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
