Naresh Nayyar appointed CEO of Essar Energy Holdings
Published October 15th, 2007
NEW DELHI: Naresh K Nayyar has been appointed as the Chief Executive Officer (CEO) of Essar Energy Holdings Ltd, a subsidiary of Essar Global Ltd, and Managing Director of Essar Oil Ltd (EOL).
At Essar Energy Holdings, Nayyar will be responsible for all operations and projects of the hydrocarbon business, both in India and internationally, a company press release said.
EEHL drives Essar Global energy business. It operates a fully integrated oil company of international size and scale in India. Its assets include developmental rights in proven exploration blocks, a 10.5 million tonnes refinery in the west coast of India and over 1,250 oil retail stations.
Plans are under way to increase its exploration acreage in various parts of the globe, expand its refinery capacity to 16 million tonnes and open 2,500 retail outlets.
“A chartered accountant and an alumnus of Indian Institute of Management, Ahmedabad, Naresh Nayyar have the reputation of combining excellent financial and strategic management skills. He has built long standing relationships with international majors in the industry,” it said.
Nayyar joins Essar Energy from ONGC Mittal Energy, a joint venture between ONGC and Mittal Investments, where he was responsible for steering the growth through mergers and acquisitions and in a short span of one year. The company had acquired several oil and gas assets across the globe.
He joined Indian Oil Corporation in 1970 and rose on to become its director in October 2002, after having handled several key assignments in finance, treasury, international trade and business strategy.
As Director for planning and business development, Naresh Nayyar was responsible for Indian Oils growth strategy and spear-headed its diversification into petrochemicals, gas, upstream and international marketing areas.
