Essar Energy has completed the acquisition of the Stanlow oil refinery and other associated assets from Shell UK for $350m.
The Stanlow refinery is located near Ellesmere Port in the north-west of England, and has a production capacity of 296,000 barrels of oil a day.
Essar has also paid an additional $916m to Shell for the stock of crude oil, refined products and other inventory items on the Stanlow refinery site.
With the acquisition of the Stanlow refinery, Essar Energy will have direct access to the UK market, and will support the firm’s strategy to provide options for the export of fuel products from its Indian refinery.
