Nayara Energy, a leading fuel retailer in India, recorded a notable 48% jump in petrol sales during the first quarter of 2024, while exports witnessed a notable decline.

According to the data, the first quarter of the year witnessed a noticeable growth in economic activity with the beginning of the harvest season. Which greatly enhances the demand for fuel. Nayara focuses on serving the needs of the local market through its institutional business and sales to other oil companies, in addition to its extensive retail network.

India suffers from a shortage in crude oil production, but has excess refining capacity. This allows it to export petroleum products such as diesel.

Gasoline exports decreased significantly from 37% in the period from January to March 2023 to 11% in the same period in 2024, due to the company’s focus on meeting the growing domestic demand for fuel; This confirms its commitment to meeting the needs of the local market first.

Petrol and diesel consumption in India saw a growth of 5.3% from January to March 2024, driven by an 8.4% rise in petrol consumption and 4.1% rise in diesel consumption; This indicates a recovery in the Indian economy and an increase in demand for energy.

This increase in Nayara Energy's sales indicates a significant growth in domestic demand for fuel in India, and confirms the success of the company's strategy to focus on meeting this demand by investing in its local businesses.

This is a strong strategy in light of the shortage of crude oil production in India, and reinforces Nayara's position as a trusted energy partner in India. The company is one of the largest producers and distributors of fuel in India.