Nayara Energy Faces Production Cuts Amid Russian Crude Supply Challenges

• Nayara Energy may trim production at its Vadinar refinery due to difficulty securing alternative crude supplies.
• The refinery, heavily reliant on discounted Russian crude, is operating at 60-80% capacity.
• Shifting from Russian crude will pressure refining margins as Middle East alternatives are costlier.
• Nayara's Russian crude imports surged in recent years, while Middle East imports declined since 2017.
• Despite potential cuts, legal experts note no formal government ban on Russian oil imports.