Oil, Gas and Consumable Fuels
Company Overview of Essar Energy plc
Essar Energy plc operates as an integrated energy company. Its Refinery and Marketing–India and Others segment engages in refining crude oil; and trading, marketing, and transporting finished products and by-products. This segment owns a petroleum refinery on the west coast of India; a 50% interest in a petroleum refinery in Kenya; and approximately 1,400 oil retailing stations on franchise in India. Its products include diesel, motor spirit, fuel oil, and kerosene oil. The company’s Refinery and Marketing–UK segment engages in the refining of crude oil; and trading, marketing, and transportation of finished products and by-products. Its products comprise diesel, motor spirit, fuel oil, and ...
10 Frère Félix de Valois Street
Founded in 1989
Key Executives for Essar Energy plc
Chief Executive Officer and Director
Managing Director of Essar Oil and Chief Executive Officer of Essar Oil
Chief Executive Officer of Essar Power Jharkhand-Tori
Chief Executive Officer of Exploration & Production Business
Compensation as of Fiscal Year 2014.
Essar Energy plc Key Developments
Talks Over Stanlow Refinery Acquisitions Reportedly Going On
Jul 31 14
Essar Global Fund Limited is in talks with two Chinese oil & gas majors for the sale of its Stanlow Refinery and is looking at raising over $3.5 billion in the deal, Economic Times reported citing sources. The deal could be in several phases and will require restructuring of Essar Energy plc. First step is already underway with Essar Energy plc and Essar Oil (UK) Limited heading for a de-listing. Essar Energy plc is expected to sell its Stanlow Refinery to Essar Oil (UK) Limited for $1 billion; post the de-listing process is complete. The restructured Essar Oil (UK) Limited with Stanlow Refinery unit under it is expected to sell 49% stake in the company to the interested buyer.
Sources Say Essar Plans To Sell Stanlow Refinery
Jun 11 14
Essar Global Fund Limited (Essar Group) is planning to sell asset. Sources close to the matter stated that Essar Group is planning to divest Essar Oil (UK) Limited (Stanlow Refinery) and seeking to raise $500 million-$600 million. According to the news report Essar Group declined to comment. Two of the sources said that a formal sale process could be launched related to the delisting of Essar Energy plc from the London Stock Exchange (LSE). The report also mentioned that Essar Energy shares have ceased trading on the LSE, and the formalities of making the company a privately held company wholly owned by Essar Group are set to be completed by July 2014. According to the report, in 2012, Barclays PLC (LSE:BARC) took control of existing crude and refined oil assets at the plant, so it is unclear whether any purchase of the plant would include those assets, which could be worth hundreds of millions of dollars. It added that Barclays was not available for comment.
Essar Energy plc Announces Board Changes
May 19 14
Essar Energy plc announced the resignation of Mr. Sattar Hajee Abdoula, Mr. Philip Aiken AM, Mr. Subhas C Lallah, Mr. Steve Lucas, Mr. Simon Murray CBE, Mr. Prashant Ruia and Mr. Ravi Ruia as Directors of the company. Essar Energy also announced the appointment Mr. Yogendra (Robin) Appadoo as a director of the company with immediate effect. Chief Executive Mr. Sushil Maroo continues as a director of the Company.
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