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  • Essar Oil UK Group acquires BP strategic assets to drive further growth
    édité le 07/02/2019 - Plus de news de "Essar" - Voir la fiche entreprise de "Essar"


Essar Oil UK Group acquires BP strategic assets to drive further growth
The Essar Oil UK Group of companies (Essar) unveiled the latest phase of its strategic business development after announcing the acquisition of a number of assets from BP to further strengthen the company’s logistics infrastructure network which will fuel growth ambitions in the UK.

This latest expansion of its UK interests means Essar has now invested nearly US $1 billion in building a profitable and sustainable UK business, since first acquiring the Stanlow Manufacturing Complex in July 2011.

The Essar growth story continues

Under the agreement, Essar will acquire an equity stake in the UKOP pipeline, a share of the contractual joint venture (with Shell) which runs the Kingsbury Terminal and a 100% interest in the Northampton Terminal.

Over recent years, Essar has broadened its downstream integration, with a highly successful and award winning entry into the UK fuel retail market. With 67 Essar branded UK retail sites already operational across England and Wales, the company has confirmed plans to grow its network to 400 retail sites over the next five years.

Already a significant player in the wholesale supply of Jet A-1 to major UK airports, the company has successfully entered the market for direct supply of aviation fuel, signing agreements with a number of leading international airlines and continuing to grow this sector of its business.

The company remains committed to further UK investment

Essar Oil UK Chief Executive Officer, S.Thangapandian, commented: “Essar continues to have great faith in the UK market, which represents an important part of the group’s strategic business growth ambitions. The acquisition of these BP assets further demonstrates the company’s ongoing commitment to investing in and growing their businesses within the United Kingdom.

“Essar will continue to play a key role in keeping Britain on the move. It currently supplies over 16% of the UK’s road transport fuel demand and this agreement will enable us to improve our competitiveness. In a rapidly changing landscape, it is critically important we stay competitive through constant business development and innovation.

“The acquisition will allow Essar to maintain its presence in a very competitive UK Midlands region and grow that current footprint. In addition, we will continue to expand our retail offering – with a number of the 12 new stations we recently branded through an agreement with MPK being supplied from the two terminals.”

Essar will continue to look for opportunities to expand inorganically, provided the acquisitions are long term value accretive and complements Essar Oil UK’s growth plans.

About Essar Oil UK

Essar Oil (UK) Limited (EOUK) owns and operates the Stanlow Refinery located on the south side of the Mersey Estuary near Liverpool. Stanlow produces 16% of UK road transport fuels, including 3 billion litres of petrol, 4.4 billion litres of diesel and 2.1 billion litres of jet fuel per year. The BP Assets are being acquired by two wholly owned subsidiaries of EOUK, namely Essar Midlands Limited and InfraNorth Limited.

About BP

BP (NYSE:BP) is one of the world's largest oil and gas companies, serving millions of customers every day in more than 80 countries, and employing nearly 85,000 people. BP's business segments are oil and gas exploration & production, and refining & marketing. In alternative energies, BP has low- and no-carbon wind and biofuels businesses. Through these activities, BP provides fuel for transportation; energy for heat and light; services for motorists; and petrochemicals products for plastics, textiles and food packaging. It has strong positions in many of the world's hydrocarbons basins and strong market positions in key economies.


Origine : Communiqué Essar

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