Nayara Energy appoints Virag as new CEO

India’s Nayara Energy, a downstream energy company of international scale, announced the appointment of Dr. Alois Virag as chief executive officer (CEO) effective April 1, 2021. Dr. Virag will take over the top executive role from the incumbent CEO B. Anand, who will advance to a new role as president within the company from April 1. In his new undertaking, B. Anand will  be responsible for developing strategic partnerships in the Indian energy market, strengthening  engagement with stakeholders including government and policy-makers, and accelerating the sustainability  initiatives of the company. 

Dr. Virag joins Nayara Energy after his last assignment as senior vice president – Downstream for Middle  East and Asia at OMV, an integrated oil and gas company headquartered in Vienna, Austria.  He brings more than three decades of downstream industry experience in refining and petrochemicals. He holds an Executive MBA from Harvard Business School and a Doctorate from Vienna Institute of  Technology where he also obtained his Graduate Engineering degree (Technical Chemistry). He also  conducted post-doctoral research at St. Louis, Washington University, U.S.A.

“Alois has an enviable track record spanning developed and emerging markets across the  downstream value chain. His expertise in leading numerous and complex capital projects, turnarounds, digitalization initiatives along with prior experience in fuel marketing and retail make him a great fit for  steering Nayara Energy’s growth plans. I would like to thank Anand for guiding the company through its  post-acquisition transformation journey and laying a strong foundation to translate our vision to strengthen  India’s energy security. Anand will now be taking up a critical, strategic role to help the company navigate  the transforming business environment, while building our reputation and enabling key value unlocks that  support our performance, growth and transition,” said Tony Fountain, executive chairman of Nayara  Energy.

“India is the most attractive growth market in the world. Backed by strong  shareholders, Nayara is a key player in India, providing the energy to fuel economic growth and wealth  building in the country. The team at Nayara consists of outstanding leaders, industry experts and a highly  skilled workforce, continuously and successfully growing its business, with high ambitions and great  potential for more. I am pleased to be a part of Nayara which is determined to provide the energy to make  the dreams of millions come true,” Virag said.

Dr. Virag and B. Anand will report to the Board of Directors. In the coming weeks, the senior leadership at  Nayara Energy will focus on effecting a smooth transition.  

About Nayara Energy  

Nayara Energy is a downstream energy and petrochemicals company of international scale with a strong  presence across the hydrocarbon value chain from refining to retail. In August 2017, the company was  acquired by international investors, Russian oil and gas company Rosneft and an investment consortium composed of global commodity  trading firm, Trafigura and UCP Investment Group. The company owns and operates India’s second largest  single site refinery at Vadinar, Gujarat with a current capacity of 20 MMTPA. The refinery is one of the  world’s most modern and complex refineries with a complexity of 11.8, which is amongst the highest  globally. Nayara Energy’s fuel retail network consists of 6,000+ outlets across India and is the fastest  growing private retailer in the energy sector. More information about Nayara Energy is available at  www.nayaraenergy.com