Latest news with #Denisov
Time of India
2 days ago
- Business
- Time of India
Nayara Energy sues Microsoft alleging abrupt service suspension ‘without prior notice': 'Microsoft is currently....'
Nayara Energy – Indian refiner backed by Russia has initiated a legal action against Microsoft alleging that the US-based software giant abruptly cut off access to essential services. According to a Reuters report, the company claims that Microsoft's move was 'unilateral' and made without consultation. 'Microsoft is currently restricting Nayara Energy's access to its own data, proprietary tools, and products—despite these being acquired under fully paid-up licenses,' the company said in a statement. For those unaware, Nayara operates the country's third-largest refinery at Vadinar in Gujarat in addition to over 6,000 fuel stations. The company typically exports at least four million barrels of refined products per month, including diesel, jet fuel, gasoline and naphtha. Why Nayara Energy is suing Microsoft The dispute follows Microsoft's decision last Tuesday to suspend services for Nayara Energy. Since then, the company's staff have reportedly been unable to access Outlook email and Microsoft Teams. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Elegant New Scooters For Seniors In 2024: The Prices May Surprise You Mobility Scooter | Search Ads Learn More Undo Nayara claims the suspension came 'without prior notice, consultation or recourse, and under the guise of compliance.' Legal petition filed in Delhi High Court In response, Mumbai-based Nayara Energy has filed a legal petition with the Delhi High Court , seeking an interim injunction and immediate restoration of services. In its petition, the company says that the aim is to 'safeguard its rights and ensure continued access to essential digital infrastructure.' Nayara Energy, a significant buyer of Russian crude, was recently sanctioned by the European Union. The company is majority-owned by Russian entities, including Rosneft. Since the sanctions were imposed, at least two ships skipped loading at its Vadinar refinery , and a tanker carrying Russian Urals crude was rerouted. Amid these challenges, Nayara's chief executive Des Dorides resigned recently. Denisov has been with Nayara since 2017. His LinkedIn profile describes him as Nayara's chief development office. The company has appointed Sergey Denisov as the new CEO. iQOO Z10R 5G goes on Sale: BEST Budget Phone for Content Creators? AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Mint
6 days ago
- Business
- Mint
Nayara Energy names Sergey Denisov as new CEO after Des Dorides resigns amid EU sanctions
(Bloomberg) -- Nayara Energy Ltd., a company partially owned by Russian giant Rosneft PJSC and recently hit by EU sanctions, has appointed a new chief executive officer following the resignation of Alessandro des Dorides last week, according to people familiar with the development. Sergey Denisov has replaced des Dorides, said the people, who asked not to be named due to the sensitivity of the issue. Denisov has been with Nayara since October 2017 and was most recently the refinery's chief development officer, according to a LinkedIn profile under his name. Prior to joining the company, he spent more than six years at oil major BP Plc. Des Dorides spent much of his career at Italian major Eni SpA. He became Nayara's CEO in March 2024. Reuters earlier reported that Denisov's appointment was confirmed on Wednesday. Nayara's webpage doesn't list its key executives. Denisov didn't immediately respond to messages sent via his LinkedIn account. The development follows the EU's latest round of restrictions last week, targeting Russia and its oil trade. That included sanctions against Nayara, in which Rosneft holds a 49.13% stake. Rosneft has called the sanctions 'unjustified and illegal.' The Mumbai-based refiner said in a statement on Monday that it was exploring legal and other options to protect its interests.
Time of India
6 days ago
- Business
- Time of India
CEO of Russia-backed Indian refiner Nayara resigns after EU sanctions, sources say
Russia-backed Indian refiner Nayara Energy has named a new chief executive after its previous CEO resigned following European Union sanctions that targeted the company, four sources with knowledge of the matter said on Friday. The reshuffle at the top is the latest disruption for the company since the EU announced a new round of sanctions last Friday directed at Russia over its war in Ukraine. This week, a tanker carrying Russian Urals crude was diverted away from Nayara's Vadinar port to unload its cargo at another port in western India, Reuters reported. That came after two other tankers skipped loading refined products from Vadinar, Reuters reported. Mumbai-based Nayara has appointed company veteran Sergey Denisov as chief executive to replace Alessandro des Dorides, the sources said. Denisov's appointment was decided at a board meeting on Wednesday, they said. Nayara Energy did not immediately respond to a request for comment. Des Dorides, who joined Nayara Energy in April 2024, did not immediately respond to a message sent on LinkedIn. Denisov has been with the company since 2017. Nayara Energy has condemned the EU's "unjust and unilateral" decision to impose sanctions. Russia's Rosneft holds a 49.13% stake in Nayara and a similar stake is owned by a consortium, Kesani Enterprises Co Ltd, led by Italy's Mareterra Group and Russian investment group United Capital Partners. India, which has become the top importer of seaborne Russian oil in the aftermath of Moscow's Ukraine invasion, has also said it does not support the bloc's sanctions.
The Hindu
6 days ago
- Business
- The Hindu
CEO of Russia-backed Indian refiner Nayara Energy resigns after E.U. sanctions, sources say
Russia-backed Indian refiner Nayara Energy has named a new chief executive after its previous CEO resigned following European Union sanctions that targeted the company, four sources with knowledge of the matter said on Friday (July 25, 2025). The reshuffle at the top is the latest disruption for the company since the EU announced a new round of sanctions last Friday directed at Russia over its war in Ukraine. This week, a tanker carrying Russian Urals crude was diverted away from Nayara's Vadinar port to unload its cargo at another port in western India, Reuters reported. That came after two other tankers skipped loading refined products from Vadinar, Reuters reported. Mumbai-based Nayara has appointed company veteran Sergey Denisov as chief executive to replace Alessandro des Dorides, the sources said. Denisov's appointment was decided at a board meeting on Wednesday, they said. Nayara Energy did not immediately respond to a request for comment. Des Dorides, who joined Nayara Energy in April 2024, did not immediately respond to a message sent on LinkedIn. Denisov has been with the company since 2017. Nayara Energy has condemned the EU's "unjust and unilateral" decision to impose sanctions. Russia's Rosneft holds a 49.13% stake in Nayara and a similar stake is owned by a consortium, Kesani Enterprises Co Ltd, led by Italy's Mareterra Group and Russian investment group United Capital Partners. India, which has become the top importer of seaborne Russian oil in the aftermath of Moscow's Ukraine invasion, has also said it does not support the bloc's sanctions.e)
Reuters
6 days ago
- Business
- Reuters
Exclusive: CEO of Russia-backed Indian refiner Nayara resigns after EU sanctions, sources say
NEW DELHI, July 25 (Reuters) - Russia-backed Indian refiner Nayara Energy has named a new chief executive after its previous CEO resigned following European Union sanctions that targeted the company, four sources with knowledge of the matter said on Friday. Mumbai-based Nayara has appointed company veteran Sergey Denisov as chief executive to replace Alessandro des Dorides, the sources said. Denisov's appointment was decided at a board meeting on Wednesday, they said. Nayara Energy, partly owned by Russian oil major Rosneft ( opens new tab, did not immediately respond to a request for comment. Des Dorides, who joined Nayara Energy in April 2024, did not immediately respond to a message sent on LinkedIn. Denisov has been with the company since 2017. Nayara Energy has condemned the EU's "unjust and unilateral" decision to impose sanctions. India has also said it does not support the bloc's sanctions.
