Essar Group and International Resources Holding (IRH) announced the successful execution of a USD 500 million crude sourcing facility and product supply facility between Essar Energy Transition Fuels and IRH Global Trading.

IRH, headquartered in Abu Dhabi, UAE, is a global mine-to-market platform that strategically invests in minerals critical to the energy transition and technological advancement. IRH Global Trading is a wholly owned subsidiary of IRH, and a key global energy trading and liquidity provider.

Essar Group is a global conglomerate with over five decades of entrepreneurial experience in conceptualising, investing, building, and operating world-class assets across the energy, infrastructure, metals & mining, technology & retail sectors. Through Essar Energy Transition Fuels, owner and operator of the Stanlow Refinery UK, the Group is investing in low-carbon energy solutions and the decarbonisation of its industrial assets.

The facility enables Essar Energy Transition Fuels to diversify the crude sourcing and marketing options for its products while optimising its working capital arrangement. It also strengthens feedstock security in an increasingly volatile global energy market, enhancing Essar Energy Transition Fuel’s ability to respond to changing market conditions and capture value across its refining and trading activities.

The transaction represents an important step in Essar Energy Transition Fuel’s strategy to forge and strengthen relationships with leading industry players, like IRH Global Trading. The agreement also underscores IRH’s role in enabling secure and efficient energy flows across international markets, while supporting operational optimisation for downstream refining assets.

Prashant Ruia, Chairman of Essar Energy Transition, said:
“We are delighted to partner with IRH Global Trading on this strategically important transaction for our Stanlow refinery in the UK.”

About Essar Energy Transition

Essar Energy Transition’s vision is to be a leading producer of low carbon fuels and establish a major energy transition hub in the North-West of England. Essar Energy Transition has planned major investment to develop a range of low carbon energy transition projects in the UK. Essar Energy Transition’s investment programme will play a key role in accelerating the UK’s low carbon transformation, supporting the government’s decarbonisation policy and creating highly skilled employment opportunities at the heart of the North West.

About International Resources Holding (IRH)

International Resources Holding (IRH), a subsidiary of 2PointZero Group, headquartered in Abu Dhabi, UAE, is a global mine-to-market platform that strategically invests in minerals critical to the energy transition and technological advancement. IRH’s integrated model spans upstream exploration, midstream processing, and downstream distribution, with a focus on minerals such as copper, cobalt, nickel, manganese, graphite, rare earth metals, tin, tantalum, and tungsten. IRH emphasizes sustainable and responsible resource development and actively partners with communities and governments worldwide to create long-term value and support economic development.