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Essar Oil (EOL), incorporated in 1989 is engaged in exploration and production (E &P), refining and marketing of oil and oil related products.
It offers a spectrum of products to bulk customers in the industrial & transport sectors. It supply aviation turbine fuel to Indian Armed Forces. It has tied up with oil marketing companies, namely Bharat Petroleum Corporation (BPCL) and Hindustan Petroleum Corporation (HPCL).
It the first private company in
Company’s global portfolio of onshore and offshore oil and gas blocks, with about 45,000 sq km is available for exploration. It has over 300,000 bpsd (barrels per stream day) of global crude-refining capacity that is being expanded to 375,000 bpsd, with the refining capacity being enhanced by almost double. It has a controlling stake of 50 percent stake in Kenya Petroleum Refineries Ltd’s 80,000-bpsd refinery; the remaining 50 percent is owned by the Kenyan government.
Essar Oil's assets include developmental rights in proven exploration blocks, a 14 MTPA refinery on the west coast of India and over 1,376 Essar-branded oil retail outlets across India.
In 2010 Amalgamation of the 100% subsidiary, Essar Oil Vadinar Ltd. with Essar Oil ltd and Essar Oil was declared winner of four Coal Bed Methane blocks."
Essar Energy plc completed the $350 million acquisition of the oil refinery and other associated assets at Stanlow, near Ellesmere Port, Cheshire, from Shell UK Limited in August 2011.The acquisition of the Stanlow refinery gives Essar Energy direct access to the UK market. It is also aligned with Essar Energy’s strategy to provide options for the export of high value fuel products from its refinery at Vadinar, in Gujarat state, India. Vadinar currently has a capacity of 300,000 barrels a day and this will be increased to 375,000bpd under a phase I expansion plan, due to be completed by the end of this year, and to 405,000bpd by September 2012 under a further optimisation project.
Exploration and Production (E&P)
It has participating Interest in many hydrocarbon blocks for E&P of oil and gas, which includes Ratna and R-Series blocks in the Bombay High. Its E&P block of Mehsana in Gujarat has currently started commercial production. It also has coal bed methane (CBM) blocks Raniganj,West Bengal, two blocks in
Its refinery unit is situated in Vadinar in Gujarat. Its current refinery capacity is 2,40,000 barrel per day (12 MTPA) , but with an investment of $6 billion it is increasing the capacity to 6,80,000 barrels per day (34 MTPA) . It also produces LPG, naphtha, light diesel oil, aviation turbine fuel (ATF) and kerosene.
Essar Oil wants to grow its retails network from 1274 outlets to 5000 outlets across the country. Through its retails outlets, it also supplies its branded petrol Punch and high speed diesel .It also has tie-ups with companies like Castrol (for lubes), Pepsi and Coca Cola (for beverages), Biostad and Rallis (for fertilisers), Tata Indicom (for PCO booths) and HDFC.