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With The Rebranding, Nayara Energy Has Also Reframed Its Ethos & Values That The Organization Stands

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By Author: Nayara Energy
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Essar Oil Ltd (EOL) wants to change its corporate identity as it enters a new phase after the acquisition by Russian giant Rosneft-led consortium in August 2017. The company is seeking approval to change its name to Nayara Energy Ltd, a term coined by combining Hindi word Naya (new) and Era. Rosneft and commodity trading and logistics company Trafigura and Russia's UCP Investment Group had bought Essar Oil for $12.9 billion as part of its ambitious plan to tap the growing energy market in India.
Rosneft has 49.13 per cent stake in the company, while Trafigura and UCP control the rest 49.13 per cent stake.
The company has cited its plans to create new brands and the change of guard as reasons behind changing the identity. "Essar Oil Ltd (EOL) is seeking approval to change its corporate identity to Nayara Energy Ltd. The new corporate identity for EOL is in line with the company's strategy to create a new brand and identity, reflecting the new ownership and its ethos," the company said in a statement.
The new company has been planning to expand the capacity of its refinery in Vadinar, Gujarat, which is India's second largest single site refinery. It has a capacity of 20 million tonnes a year. Also, it aims to increase the company presence by expanding the petrol pump network from 4,473 to 6,000 outlets. The company has over 2,600 outlets at various stages of completion.
Company CEO B Anand, in his message to the company employees, said Nayara "signifies the company's vision to succeed in a new era in the energy sector". "With the backing of our new shareholders, we are confident of steering the company to a new era, while delivering world-class products and services to meet customer needs, across our value chain," he stated, reported PTI.
With the re-branding of the organization, Nayara has reframed its corporate identity ethics & values, which more clearly signify the vision & mission of the newly formed Nayara Energy. Keep reading to understand the values:

1-ENERGETIC
We are constantly looking at better ways to shape tomorrow, today and we do this with a sense of zeal and determination. By making a tangible difference through our products, services, and interactions; we are determined to continually energize the lives of our stakeholders.
2-XTRAORDINARY
Pivotal in our journey towards an ‘xtraordinary’ future is our creative, diligent and high-potential workforce that constantly asks the question “Is there a better way of doing things?”
3-COURAGEOUS
We welcome new challenges and chase big dreams with conviction. Taking bold steps to succeed in the ever-changing Indian and global energy markets is what makes us stronger, faster and better.
4-ETHICAL
We honour commitments. Be it in our dealings with the environment, people or community, we always do things the right way - with integrity, consistency and transparency.
5-LEAD
We lead by example. By being proactive, taking ownership of our actions, and building a team that is future-ready, we challenge the status quo to always stay one step ahead of the rest.

To know more visit https://www.nayaraenergy.com/

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