Page 2 - Essar Oil

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

Deadline missed, Essar Oil says sale closure to Rosneft-led group soon

All parties to deal strive to obtain requisite approvals, even as Rosneft confirms shift in goalpost

Essar Oil posts record 2,162 crore net profit in FY2016

Essar Oil got delisted from stock exchanges last year

Oil wars: How Russia's $13 billion Indian refinery deal almost fell apart

A multi-billion-dollar Russian deal to buy Indian refiner Essar was nearly sunk at the eleventh hour by a rival bid from Saudi Arabia

Essar Oil stake sale may set a precedent in oil and gas sector

With the Rosneft deal, it is the first time ever that promoters of a private Indian oil company have leapt over all hurdles to sell their whole stake to a foreign investor

Essar Oil deal to pull StanChart out of loan mess

StanChart that had lent $2.5 billion dollar to the Essar group will see its stressed asset problem come down significantly

Foreign firms lead in asset purchase after Essar Oil buy

MNCs pick up Rs 1.15 lakh crore of assets since January versus Rs 35,000 crore by local firms

5 implications of Russians buying Essar Oil

Despite Essar's assertions, the deal with Rosneft would only help the group settle a portion of its debt