India's largest private fuel retailer, Nayara Energy, saw a 48% rise in petrol sales and exports drop as the firm met rising local demand for fuel. In the January-March quarter, Nayara sold 70% of all petroleum products it produced at its Vadinar oil refinery in Gujarat to the local Indian market. The company statement indicated that Nayara Energy is primarily focused on meeting the growing demand for petroleum products in India. This is achieved through institutional business, sales to other oil companies, and its own retail chain. The company recorded strong year-over-year growth in domestic retail sales of 24% and an increase in institutional sales of 12.5%, driven by its messaging of "In India, For India," The amount of gasoline sold domestically increased from 0.60 million tonne in January?March 2023 to 0.89 million tonne in the first quarter of 2024. At 1.7 million tonne, diesel sales were essentially unchanged. The statement highlighted Nayara's commitment to being a strong partner in meeting India's energy needs and affirmed its ongoing dedication to serving the country's energy consumption demands. It also noted that the first quarter of the year shows positive momentum for economic activity in India with the onset of the harvest season. India produces less crude oil than other countries, which is the raw material used to make fuels like gasoline and diesel, but it has more refining capacity than it needs, which allows it to export petroleum products like diesel. According to data from the oil ministry, the production of petroleum products in 2023?2024 was 276.1 million tonnes, compared to a consumption of 233.3 million tonnes. Nayara Energy stated that it remains the largest private retail network in India, with over 6,500 petrol pumps across various regions. The company highlighted that 98% of its retail outlets are fully automated for improved controls and standards. After meeting domestic demand, Nayara exported approximately 1.53 million tonne of surplus products, including jet fuel, diesel, and petrol, from January to March 2024. The statement noted a significant decrease in the percentage of gasoline export sales year-on-year, from 37% of total gasoline sales in January-March 2023 to 11% in the same period in 2024, underscoring Nayara's focus on domestic consumption. Nayara Energy's export markets include Africa, Southeast Asia, and the Middle East, with no automotive fuels exported to Europe. Of the total exports, about 0.95 million tonne were gasoil. The company also mentioned that over the past five years, gasoil exports to the European Union have been minimal. India's use of gasoline and diesel increased by 5.3% between January and March of 2024. 32.3 million tonne of motor fuel were consumed in the quarter, as opposed to 30.7 million tonne that were required at the same time last year. According to the statement, the growth was driven by an 8.4% increase in petrol consumption and a 4.1% increase in diesel consumption. The statement emphasised Nayara's commitment to providing energy that supports the aspirations of its customers, partners, communities, and employees. About 8% of India's oil refining output is owned by the company. It runs a 20 million tonne oil refinery in Vadinar every year. Alessandro des Dorides, Chief Executive Officer of Nayara Energy, mentioned that with 70% of its products consumed in the Indian market and the company contributing 8% of India's refining output, Nayara Energy is dedicated to enhancing India's energy security.