From the previous few years, diverse studies have been taking place at a faster rate by implementing innovative practices so as to improve the performance of lubricating oils and hence the system in which it is used. Using nanolubricants, bio-lubricants are some of the alternative solutions. In the present study, the various properties viz; rheological, tribological, and performance studies of polyol ester (POE) lubricant, a widely used lubricant in household refrigerator compressor, are evaluated by loading it with alumina nanoparticles and compared the results. The mass percentage of nanoparticles used is from 0.05 to 0.15%. The rheological properties were evaluated for the temperature ranges from 25 to 100 °C. High-Frequency Reciprocating Rig (HFRR) is used to perform tribological studies. The results show that the viscosity, viscosity index, improved with the rise in the proportion of alumina nanoparticles and all the proportions of nanolubricant showed Newtonian behaviour. The POE + 0.125%alumina nanolubricant showcased superior performance in tribological studies, in the energy utilization of the R134a refrigerant compressor and COP. Similar studies can also be conducted in various other mechanical systems that require lubrication, in-view of enhancing its performance and durability.