India’s Nayara Cuts Oil Refinery Run Rate After EU Sanctions

Nayara Energy Ltd. is reducing run rates at its west India refinery as more domestic and global players spurn the refiner after the EU imposed sanctions on the company.

The 400,000 barrel-a-day Vadinar refinery is currently operating at about 70% to 80%, said the people, who asked not to be named due to the sensitivity of the matter. Across India, processors typically run plants at close to 100% of nameplate capacity, or over.