Essar Energy has completed the acquisition of UK's Stanlow oil refinery.
The company has acquired the refinery for $350 million (approx Rs 1.557.5 crore) from Royal Dutch Shell. The Stanlow refinery has capacity of 2,96,000 bpd of oil. It supplies about one-sixth of the UK's petrol and is also a key manufacturer of diesel and aircraft fuel.
The acquisition gives Essar Energy direct access to the UK market. It is also aligned with Essar Energy's strategy to provide options for the export of high value fuel products from its refinery at Vadinar, in Gujarat.