Essar to buy UK refinery

The Essar Group said the proposed buy on fruition will increase Essar’s capacity by two thirds, effectively making it India’s third largest oil refiner by volume with a capacity of 58 million tonnes in the long term.

Essar Energy also said the Stanlow refinery buy is at a competitive price of $350 million for the 296,000-barrels-a-day plant translates to $1,182 a barrel of daily throughput. With the completion of the acquisition.

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