Page 2 - Essar Oil

Essar Oil UK aims to lift US oil refining to 40%; eyes asset stake sale

SINGAPORE (Reuters) - Essar Oil UK aims to lift processing of U.S. oil at its 200,000 barrels per day Stanlow refinery by March to 40% from 35% currently, its Chief Executive Officer S. Thangapandian said on Monday.

Nayara Energy signs $750-million contract with BP and Trafigura

The refinery has annual crude oil throughput of 20 million tonnes, importing it from various regions

Essar Exploration & Production, ENI Vietnam discover gas in Vietnam block

Eni Vietnam is the operator of the block with a 50 per cent share, and Essar holds the remaining 50 per cent share

Essar gets nod for shale exploration in WB, plans to invest Rs 7,000 crore

To start with, Essar will be drilling five wells in the block by 2020.

Essar Oil to acquire pipeline, oil terminal from BP for up to $100 million

Under the deal, Essar will acquire equity stake in UK Oil Pipeline, a share of the contractual JV with Shell

Essar Oil set to focus on shale gas exploration, plans $30-mn investment

Firm plans $30-million investment to drill shale wells for assessing productivity

Buoyed by new policy, Essar to invest Rs 70 bn to explore shale in Ranigunj

EOGEPL said it would need to invest close to Rs 700 bn for developing the shale gas potential in the block

Essar under watch over 'illegal' coal-bed methane extraction in West Bengal

The issue is similar to a dispute between Oil and Natural Gas Corporation and Reliance Industries over the latter drawing gas from the state-run company's block

Rosneft-owned Essar Oil to be renamed Nayara Energy; to create new identity

In October 2016, Rosneft and a consortium led by Trafigura entered into a deal with the Essar group to acquire Essar Oil's refining and retail assets for $10.9 bn

Essar Oil UK to focus on aviation fuel amid electric vehicles push

Last year, the UK government had come out with a plan to ban new diesel and petrol cars and vans

Essar Oil still owes about 500-mn euros for previous purchases to Iran

The outstanding payments stem from delays in paying for Iranian oil when the country was under international sanctions

Essar Oil picks Trafigura, BP for $1 bn oil-backed loan of refined products

The sources said that Trafigura and BP were jointly working to structure and then syndicate the loan with banks in the next few weeks

Essar Oil eyes loans from traders as banks fear Russian links

Kremlin-owned Rosneft has been under the US sanctions since Russia's annexation of Crimea in 2014

Led by Rosneft, Essar Oil sees retail expansion, new oil supplies

Essar Oil operates no less than 3,888 retail outlets as of October 2017, compared to 3,500 when the acquisition was completed

No plans to sell Stanlow refinery in UK, says Essar

Essar had paid Shell $350 million to buy Stanlow, the UK's second largest refinery

Essar Oil to invest $250 mn in Stanlow refinery

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.Company officials added the $250 million, includes $200 million towards capital expenditure and another $50 million as working capital requirements. The company so far has invested upto $800 million to turnaround the Stanlow facility. "Major investment in 2018 will increase annual throughput from 68 million to 75 million barrels," the company said in its statement. These investments will be completed in the current financial year and is expected to bring in an additional margin of $1 per barrel for the company."Production of high value products like .

Essar Oil to invest $250 mn to expand refining capacity in UK

Firm aiming to set up 400 petrol pumps in 5 yrs

Essar Oil's small investors to get Rs 75.48 more over delisting price

Promoters of Essar Oil Ltd (EOL), Essar Energy Holdings Limited (EEHL) and Oil Bidco (Mauritius) Limited (OBML), today said that the former minority shareholders, who tendered EOL shares in the delisting offer, will be paid an additional amount of Rs 75.48 per share, following the closure of the sale transaction with Rosneft and the Trafigura-UCP consortium. The total payment of around Rs 880 crore will be in addition to the Rs 3,064 crore that OBML had paid to the minority shareholders following EOL's delisting in 2015. "This transaction (Essar-Roseneft consortium) has created many records and the additional payout to shareholders over and above the delisting price is another first in the history of corporate India. This resonates with our philosophy of rewarding shareholders handsomely," Essar founder Shashi Ruia was quoted as saying.The promoters will shortly issue a public notice in this regard and as committed in the Delisting Offer of December 2015, the additional payout will ..

Essar Oil-Rosneft deal done, new owners focus on assets growth

To double the throughput of refinery; create petrochemicals facility in long term

Essar Oil sees improvement in retail, refining throughput

Retail sales for the company also saw a significant jump of 75% in FY17