Teymur Abasguliyev Named New CEO of Nayara Energy
Nayara Energy, one of India’s major private oil refiners, has appointed Teymur Abasguliyev, a senior executive from SOCAR Turkiye Enerji A.Ş., as its new Chief Executive Officer (CEO). The decision follows the resignation of Alessandro Des Dorides and other top European executives, triggered by recent European Union sanctions against the company.
The appointment comes in the wake of the European Union’s 18th round of sanctions on Russia, which included Nayara Energy due to its association with Rosneft, a Russian state-owned oil giant that holds a 49.13% stake in Nayara.
Due to their European nationality, Des Dorides and five other senior officials were compelled to step down to comply with the sanctions. This included directors and vice presidents from operations and safety divisions. The company has criticized the sanctions as unjust and a threat to India’s energy security.
Teymur Abasguliyev is an Azerbaijan national, educated at Baku State University. He has had a long career in finance and energy, including,
His appointment was approved by the Nayara Board of Directors and is expected to restore leadership stability at a critical time for the company.
Nayara Energy operates a 20-million-tonne-per-year refinery in Vadinar, Gujarat, one of India’s largest private-sector refineries. It also runs a retail network of over 6,750 petrol pumps across India.
Ownership is split between,
This ownership structure reflects deep Russian investment ties, which have increasingly come under scrutiny due to geopolitical tensions.
In an important development in the banking sector, the Government of India has extended the…
In a major endorsement of India’s digital payments ecosystem, Google has launched its first-ever credit…
The Global Investment Risk and Resilience Index 2025, released by Henley & Partners in collaboration…
Multinational corporations continue to dominate the global economy, and the 2025 Hurun Global 1000 Report…
Many countries around the world are known for their beautiful islands, which attract travellers, nature…
Every year, people around the world decorate Christmas trees with lights, ornaments, stars, and colorful…