Es­sar to in­vest $250 mil­lion in its UK re­fin­ery

Chemical Industry Digest - - News & Views -

Es­sar

Oil UK will in­vest $250 mil­lion in its Stan­low re­fin­ery, UK. This in­vest­ment will en­able Es­sar Oil UK raise its an­nual pro­duc­tion to 75 mil­lion barrels from the cur­rent 68 mil­lion barrels, in­crease its bas­ket of crudes, and aug­ment pro­duc­tion of petro­chem­i­cals to 10 per cent.

The busi­ness re­mains heav­ily fo­cused on Bri­tain, where it gen­er­ates 85 per­cent of its rev­enues, while the re­main­der of its prod­ucts are sold in other parts of Europe.

The com­pany has in­vested over $800 mil­lion into Stan­low since ac­quir­ing it from Shell in 2011, en­abling it to raise hy­dro­car­bon mar­gins by over $5 a bar­rel, in­crease petro­chem­i­cal pro­duc­tion by 10 per­cent and add 37 crude items to its port­fo­lio. Ex­pan­sion plans

The com­pany which sup­plies 16 per­cent of the UK’s road trans­port needs, would con­tinue ex­pan­sion into the direct avi­a­tion fuel sup­ply busi­ness, as it won con­tracts from Emi­rates, Eti­had, Jet2.com and Oman Air, and would also con­tinue ex­pand­ing its own UK retail net­work. It cur­rently has 36 retail out­lets and plans to set up 400 branded retail sta­tions in the UK over the next five years.

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