Essar Oil to invest $250 mn in Stanlow refinery

The company also looks to further increase its petrochemicals capacity

Essar Oil UK looks to invest $250 million in its Stanlow refinery to increase production, improve focus on high-value products and expand its crude oil sourcing basket to save costs and improve margins.

"Essar Oil UK will invest $250 million as capital expenditure and maintenance in its Stanlow refinery to improve throughput and yields," the company said in its statement on Wednesday. The investment will be funded through internal accruals.

The company officials added that the $250 million includes $200 million towards capital expenditure and another $50 million as working capital requirements. The company so far has invested up to