Essar Oil is likely to acquire 50 per cent stake in the Mombasa based Kenya
Petroleum Refineries. The remaining stake will be held by the Kenya Government.
The company is expected to pick up the stake from three oil firms - Shell
Petroleum, BP Africa (17.1 per cent each) and Chevron (15.8 per cent) in the 4
million tpa refinery.
Currently, the company has a refining capacity of 210,000 bpd of oil at its
refinery in Vadinar in Gujarat. The company has also embarked on an expansion
programme of the refinery and plans to take the capacity up to 700,000 bpd of
oil.
Also See:
Essar oil to supply petroleum
products to HPCL, BPCL (07-Feb-09)
Addendum:
Essar Oil, through its arm Essar Energy Overseas, has picked up a 50 per cent
stake in Kenyan Petroleum Refineries through the acquisition of stakes from
Shell, British Petroleum and Chevron.