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Russian backed Nayara closes £573m pre-pay with Trafigura, BP

INDIAN refiner Nayara Energy has completed a long-term pre-payment agreement with BP and Trafigura for £573 million, the company said yesterday (1).

The latest agreement is backed by a consortium of international lenders, will see the two business giants repaid with future gasoline and gasoil over the next four years.


Russian backed Nayara, formerly Essar Oil, was acquired by a consortium led by the Russian energy company, Rosneft two years ago.

The Russian business owns 49.13 per cent of Nayara, while Moscow based UCP Investment Group and Trafigura together own a similar stake in Indian refiner.

With the acquisition of Indian oil firm, Russian businesses took the control of a crude oil refinery in country’s western state of Gujarat as well as a port, power plant, and 3, 500 fuel stations for £9.96 billion.

Trafigura Group is a global commodity trading company headquartered in Amsterdam.

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Jaguar Land Rover

Vehicle production came to a complete halt on September (1) with JLR unable to resume global operations until five weeks later

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Jaguar Land Rover production plunges 43 per cent following devastating cyber attack

Highlights

  • JLR produced only 59,200 cars in final quarter of 2025 compared to 104,400 previous year, down 43 per cent due to cyber attack fallout.
  • Operations halted globally for five weeks from September after August breach described as Britain's most expensive cyber attack.
  • Retail sales plummeted 25 per cent to 79,600 vehicles; company preparing to launch £100,000+ electric Jaguar saloon later this year.

Car production at Jaguar Land Rover plummeted by 45,000 vehicles in the final quarter of 2025 as the British automotive giant struggled with the aftermath of what experts have described as the most expensive cyber attack in British history.

The company revealed total output in the three months to December was down 43 per cent compared to last year, despite restarting factory lines in the second week of October. JLR produced just 59,200 cars in the final quarter of 2025, compared to 104,400 the previous year.

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