Essar Oil

Will invest $1.2 bn to develop a global supply hub for low-carbon fuels

The company reported 100% offtake of gas through GAIL's Urja Ganga pipeline

quasi-administered price regime and the imposition of Universal Service Obligations is complicating their business plans

"With the war, the chances of a Western company buying a stake in Nayara looks difficult. They may have to look for Indian equity partners," said a banker.

Lower rating by Care follows concerns over Rosneft's support to the Indian company after Russia invaded Ukraine and western countries imposed sanctions on the Russian entities

This seemed to be intended to calm speculation that it may be on the brink of collapse, following media reports to this effect

Essar Oil UK, operator of Britain's Stanlow oil refinery, is in talks with UK authorities over extending a Jan deadline to repay hundreds of millions of pounds in deferred taxes, company said.

New members include Jonathan R Kelafant of Advanced Resources International, Inc, and Charles Boyer of Schlumberger

Top-notch lawyers, diplomats and corporate honchos roped in

With this, the firm has more low-cost liquidity to meet upcoming needs, can focus on its transition to become a low-carbon energy provider" with greater vigour

Essar in its statement said that Tripathi will drive the investment strategy and play a key role in providing strategic direction to EGFL

An experienced energy professional, Wilson was previously with BP plc of the UK where he held a number of senior leadership positions

The development comes after the central government eased the rules on exploration of unconventional hydrocarbons

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.

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

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

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

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

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

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