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.
Indian mountaineer Kabak Yano successfully summited Mount Aconcagua in Argentina, the highest peak in South…
The National Statistics Office (NSO) has announced a nationwide Survey on Migration, scheduled from July…
Kashmir is often described as one of the most beautiful regions in the world, known…
India and the European Union have taken a decisive step towards paperless global trade. On…
Andhra Pradesh has introduced an innovative digital tool for small businesses. On 2 February 2026,…
Indian-origin scientist Veerabhadran Ramanathan received the Crafoord Prize, widely known as the “Nobel of Geosciences.”…