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Last 190.25 INR
Change Today -7.65 / -3.87%
Volume 858.0K
As of 9:00 AM 10/1/15 All times are local (Market data is delayed by at least 15 minutes).

essar oil ltd (ESOIL) Snapshot

Previous Close
Day High
Day Low
52 Week High
08/11/15 - 211.15
52 Week Low
11/27/14 - 91.85
Market Cap
Average Volume 10 Days
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Dividend Yield
Current Stock Chart for ESSAR OIL LTD (ESOIL)

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essar oil ltd (ESOIL) Details

Essar Oil Limited explores, produces, refines, and markets petroleum products in India and internationally. It has a portfolio of onshore and offshore oil and gas blocks with approximately 1.7 billion barrels of oil equivalent in reserves and resources; and five coal bed methane gas blocks covering approximately 13 trillion cubic feet of reserves and prospective resources. The company also offers LPG, SKO, aviation turbine fuel, furnace oil, bitumen, petcoke, sulphur, MS, HSD, gasoline, diesel, vacuum gasoil, and fuel oil to chemical, fertilizer, and shipping companies, as well as power plants. As of September 16, 2015, it operated a network of 1,550 fuel retail outlets under Essar brand name in India. In addition, it engages in the construction and development of residential townships, colonies, and residential complexes. The company is based in Mumbai, India. Essar Oil Limited is a subsidiary of Essar Global Fund Limited.

1,889 Employees
Last Reported Date: 08/24/15

essar oil ltd (ESOIL) Top Compensated Officers

Chief Executive Officer, Managing Director, E...
Total Annual Compensation: 30.9M
Director of Refinery, Director and Member of ...
Total Annual Compensation: 17.3M
Compensation as of Fiscal Year 2015.

essar oil ltd (ESOIL) Key Developments

ONGC, Essar Oil, Reliance Industries, Great Eastern Energy Corporation Ltd to Invest $2 Billion in Coal Bed Methane Projects

PSU explorer ONGC as well as private firms Reliance Industries (RIL), Essar Oil and Great Eastern Energy Corporation Ltd. (GEECL) on Wednesday apprised the petroleum ministry of their plans to invest a combined $2 billion in the next three to five years in coal bed methane (CBM) projects. However, these investments, that may lead to increase in output to about 6 million metric standard cubic meter per day (mmscmd) from 1.1 mmscmd now, would require a remunerative pricing regime in addition to timely regulatory approvals including land acquisition, forest and environment clearances. The petroleum ministry held a review of CBM production in the country. The meeting was chaired by Kapil Dev Tripathi, secretary and U P Singh, additional secretary (exploration) at the petroleum ministry. The four explorers - ONGC, Essar Oil, RIL and GEECL - were represented by top executives of the firms. Till now, nearly $1.18 billion investments have been made to CBM projects in India. The discussion is constructive where the explorers put forward their plans. Most of the issues flagged by them are common to all, a government official privy to the discussions told FE. Currently, GEECL's Raniganj (South), while Raniganj (East) held by Essar Oil are the only two blocks under production. ONGC's Jharia block started test production but is yet to achieve commercial stage. The pricing of the gas is one of the crucial issues faced by the explorers. The price of natural gas, based on a formula approved by Modi-government in October last year, would further reduce to $4.15-$4.20/mBtu from October 1 against $5.18/mBtu now. At this price, commencing CBM production from a new block seems economically unviable. According to industry watchers, a price of $8-8.5/mBtu is viable at the current scenario. The industry wants a 'fair and equitable index,' for pricing of the gas, which could be linked to alternate fuels also. The CBM projects are capital intensive, and different from conventional ones where a large numbers of wells are required to be drilled at a faster pace. The explorers have brought to limelight that without a 'economically-viable' pricing for CBM, the investments may not see light of the day. For example, in China CBM players claim a premium of $2/mBtu, in addition to prevalent gas price of $11.9/mBtu. India offered 33 CBM blocks. However, 17 of them, or 50% of the blocks, have been relinquished. RIL targets to commence production from Sohagpur (West) in Madhya Pradesh, while ONGC from its Bokaro block in 2015-16. The petroleum ministry has already received inputs from the industry about non-viability of CBM operations at lower gas price. In contrast, GEECL sells gas from its CBM block at $10-11/mBtu. This is because government has approved a minimum floor price for these fields. GEECL that operates the Raniganj (South) block has a approved price of $6.79/mmBtu, while Raniganj (East) held by Essar Oil has a approved price for the incidental gas of $6.25/mmBtu. Essar Oil, however, has opted the pricing regime approved last year for its CBM gas.

Essar Oil to Undertake 30 Days Refinery Shutdown

Essar Oil will undertake a planned shutdown of its Vadinar Refinery for 30 days from September 18, 2015 to October 17, 2015. During this period, Essar Oil will undertake major maintenance and inspection fobs of all its refinery units and also complete the conversion of the vacuum Gas Oil Hydroteater unit to Mild Hydrocracker unit.

Essar Oil Plans to Increase Petrol Outlets to 5,000 by 2016 End

Essar Oil is planning to raise its petrol pumps count over three-fold to 5,000 before the end of 2016. At present, Essar has 1,550 petrol outlets in the country. It is also implementing another 1,600 pumps. Last year, the government deregulated diesel price. Such move has encouraged Essar to foray into the market.


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Valuation ESOIL Industry Range
Price/Earnings 16.5x
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Price/Cash Flow 11.0x
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