2023 BBC. All material subject to strictly enforced copyright laws. "We are currently investigating Essar for breaches of their environmental permit and as such are unable to comment further. Something went wrong, please try again later. Friday 17 September 2021 15:37, UK. Global oil demand on course for record as Chinas economy rebounds, Exxon CEOs pay rose 52% to nearly 30m amid Ukraine war, figures show. Why you can trust Sky News. Closure of lubricants. Korea Inflation Slows in April, Backing Case for Rate Easing, The Inside Story of Buffetts Big Japan Bet, Over Glasses of Coke at Four Seasons, Corporate America Focuses on Cost Cuts and Layoffs Not Growth, Peru Inflation Falls Below 8%, Supporting Central Bank Ambitions, IMF Chief Says Rising Rates Exposed Banking Vulnerabilities, First Republic Sale Fills Bankers With Relief and Worry, NXP Rallies After Maker of Automotive Chips Gives Rosy Forecast, Apple-Masimo Trade Secrets Fight Ends With No Jury Verdict, IBM to Pause Hiring for Jobs That AI Could Do, Airbuss Newest A321 Jet Running Late as Delays Become New Norm, Biden, Marcos Reaffirm Ironclad Alliance as Tensions With China Grow, Republican Party Has a Future Beyond Trump, Youngkin Says, Morgan Stanley Plans 3,000 More Job Cuts as Dealmaking Slumps, FIFA Threatens to Pull Broadcast of Womens World Cup in Europe, MGM Resorts Tops Estimates, Cites Gains in Vegas and Macau, JPMorgan Jumped On First Republic's Exploding Manhole Cover, More Companies Head to Space, But No One Can Agree on the Rules Up There, Why Chinese Banks Arent Worried About Depositors Fleeing, The Boring Old Box Truck Gets the Tesla Treatment, E. Jean Carroll Testifies TrumpCritic Conway Encouraged Her Lawsuit, Trump Is Denied Mistrial Over Unfair Rulings in E. Jean Carroll Case, Brookfield Eyes Green Steel for Multibillion New Transition Fund, Bara DitchingPrivate Jet for Train Points toGreener Football, Germany Sets the New Standard for Cheap, National Mass Transit, Chinas Now Spurning Ugliest Buildings That Symbolized Its Meteoric Rise, Broke Chinese Gen Zs Turn Factory Town into Top Tourist Spot, Nigerias SEC Plans to Allow Asset-Backed Tokens But Not Crypto, Bitcoin Sags After its Longest Streak of Monthly Gains Since 2021, Bitcoin on Course for Longest Streak of Monthly Gains Since 2021. Later this month we're closing the M53 for a night, ensuring the main module of the UK's first hydrogen-ready furnace can be delivered to Essar Oil UK's Stanlow . On board the worlds last surviving turntable ferry. Stanlow Refinery - Significant Potential Completed first year ownership US$350 million acquisition cost . Video Loading CORRECTED - FACTBOX-European oil refineries for sale or closure M53 closure to help construct hydrogen-powered refinery. Fears for future of Stanlow oil refinery amid urgent financing talks Live from New York and Hong Kong, bringing you the essential stories from the close of the U.S. markets to the open of trading across Asia. S. T. Ciminelli - Editorial Board - Hydrometallurgy - Journal - Elsevier Lloyds is said to have become frustrated by a failure to address repeatedly expressed concerns about the Stanlow refinery-owner's governance over a protracted period, as well as a series of delays to the filing of audited accounts. Stanlow later said it was seeking alternative supplies. COPYING AND DISTRIBUTING ARE PROHIBITED WITHOUT PERMISSION OF THE PUBLISHER, Refining, Petrochemicals and Gas Processing, Future Uncertain for Long Running Stanlow Refinery in the UK, Online Exclusive (Opinion): Security for U.S. and Europe begins with new energy policy, GEI Hydrogen Project Playbook 2021 In Numbers, SOCAR Makes FID Push for Petrochemical Plant in Turkey. Documents filed at Companies House show that losses at Essar Oil (UK) deepened from $221m (168m) to $321m in 2021, a year in which government officials became concerned about the financial position of the company, which supplies 16% of UK road fuel from its refinery in Ellesmere Port, Cheshire. Stewart Prentice, Head of Projects, at Essar said: We would like to thank National Highways for their support in this mammoth task, especially in facilitating closure of the M53 as our new furnace travels on its final leg to Stanlow. Private equity firm Bartons Family Capital is weighing a takeover of the U.K. Stanlow oil refinery, The Times reported on Sunday. "The government has put in place a far-reaching package of support to help businesses across the economy during the pandemic, including the furlough scheme, loans and VAT deferrals. Explore in 3D: The dazzling crown that makes a king. Earlier this year, dockers refused to unload Russian oil shipments destined for the refinery. Member of the Brazilian Academy of Sciences and . * India's Essar Energy ESSR.L agreed to buy Royal Dutch Shell's RDSa.L Stanlow refinery in northwest England for $350 million. "Royal Dutch Shell to sell Stanlow refinery for $1.3bn", "Essar Group | Businesses | Essar Energy | Profile", "Essar Energy acquires Shell's Stanlow refinery for $350 mn", "Europe's biggest oil depot opened at Haydock", "Future of oil refinery in doubt as Shell considers sale of Stanlow", "Shell to axe another 1,000 jobs and sell last UK refinery", "New Stanlow refinery boss promises expansion", "Oil refineries likely to close across UK and Europe, Essar Energy boss warns", "Essar Energy says Stanlow oil refinery integration in line with expectations", "Stanlow refinery owner 'nearing collapse', "Stanlow oil refinery 'on brink of collapse' as crisis talks continue", "Fuel protesters' Ellesmere Port oil blockade bid", "Dockers at Merseyside refinery refuse to unload Russian oil", "Tanker of Russian gas docks in France after being turned away from UK", "Ukraine: Workers refuse to unload Russian oil from ship", "Shell receives offer for Stanlow refinery in the UK", https://en.wikipedia.org/w/index.php?title=Stanlow_Oil_Refinery&oldid=1092380249, Storage capacity: 2 million tonnes of crude oil and products. "We continue to work with our legal advisers to adopt best practices in this regard for a private company, including a firm intention to appoint two independent directors in due course.". 1) Sign up to receive our monthly newsletter here and gain access to all articles and resources. National Highways will close over night an area of the M53 near Whitby tomorrow (Saturday 13 August) as the biggest single module for the UK's very first hydrogen-ready heater to Essar Oil UK's Stanlow refinery near Ellesmere Port in Cheshire is transferred. We're paving the way for cutting carbon emissions at one of the country's biggest oil refineries. The blackout and issues with the startup impacted the effluent [waste] treatment system resulting in oil (hydrocarbon) spilling out into Thornton Brook, and a clean-up is still ongoing. A spokesperson for Essar said 2019 had been a "challenging year" from an environmental perspective and changes had already been made since the report. Stanlow Terminals | LinkedIn As always you can unsubscribe at any time. Apollo has been reported to be in discussion with Nayara Energy owned Essar for several weeks now following news that Stanlow was in jeopardy of closure due to the demand destruction seen over the last year. [ID . The northbound carriageway will be closed between junction 10 and junction 8 with the closure time on the Saturday evening after 7pm and subject to an appropriate reduction in traffic levels from Cheshire Oaks. [16] Essar plan a 250 million expansion of Stanlow, with production of diesel and aviation fuel to be increased. Other issues that contributed to the poor rating included an accidental loss of containment of a process liquid due to a failure in operating techniques and a crash on-site with a waste line that reduced the effectiveness of their liquid waste treatment capability, fortunately, no one was injured. Vicente's mommy. Stanlow Refinery is an oil refinery owned by Essar Energy in Ellesmere Port, North West England. Dockworkers have called this a loophole in sanctions.[23][24][25]. Petrol giant Essar on brink of collapse - The Times The two chemical plants at the site are owed by Shell but are run under a management agreement by Essar Oil UK. CR4 Thread Spherical Tanks and Liquefied Petroleum Gas. The new furnace is part of Government-backed plans to include hydrogen in the race to reduce the countrys carbon emissions to net zero by 2050. The refinery occupies nearly 1,900 acres (7.7km2) near the River Mersey and dates back to 1924, when a small bitumen plant was established. [17] In April 2021 the company was reported to be heavily in debt after fossil fuel demand dropped during the COVID-19 pandemic. In 1969 Shell-Mex & BP opened a 3 million joint venture bulk liquid distribution centre at Haydock, Lancashire. "We continue to regulate the site to make sure Essar have the right protection measures in place to minimise the risk of damage to the environment.". The government has a net zero target by 2050. 2) Put your email in the box where indicated. [12] Oil products were loaded into a fleet of 100 road tankers for distribution. "In terms of governance, we always seek to adopt best practices and, working with our advisers, we made some changes to the board in recent weeks. Thieves sniffed out by police dog after Cheshire oil refinery break-in, Two men from Liverpool fled the scene and hid in undergrowth but were eventually tracked down by police dog Toro, Dramatic video shows huge flames at Stanlow 'lighting up' night sky, People said they saw the sky turn orange as a result of the flaring from the refinery, New 360m plant will secure Ellesmere Port refinery's future and safeguard jobs, Essar says building the carbon capture plant is part of its plans to become a 'leading low carbon refinery' by 2030, Tranmere Rovers chairman takes up role at Ellesmere Port refinery, Mark Palios, former chief executive of the FA, has been appointed to the board of Essar Oil, How giant furnace crawled along M53 before arriving at Stanlow refinery, Essar release images of the overnight delivery of the first-ever hydrogen-powered furnace - the first of its kind in the UK, Waste firm staff at Cheshire's Stanlow Refinery could be set to strike, Unite is currently balloting members employed by Veolia and based at the refinery over possible industrial action, Just Stop Oil protesters could target Cheshire Stanlow refinery, M53 and M56, warns Essar, The company said they will be they will implementing 'additional checks', Strike action threat over as Essar's Stanlow refinery workers accept new pay deal, More than 400 employees had voted overwhelmingly in favour of industrial action back in September, Stanlow Refinery owner unveils plans for hydrogen plants that could attract 750m investment, Essar announced it has submitted plans for the two plants as part of the transition to 'low carbon operations', Essar Oil staff at Stanlow Refinery set for strike action, Further talks are scheduled in the industrial dispute with Essar over pay, pensions and unpaid bonuses, Stanlow Refinery owner Essar reaches agreement with HMRC to help 'stabilise finances', The deal comes after reports that the owner of the Ellesmere Port site was on the brink of collapse, Stanlow refinery firm Essar responds to speculation over collapse, The firm has now responded to 'press speculation' that claimed it's on the brink of collapse, Notorious Stanlow fuel blockade in pictures nearly 21 years after it took Britain to brink of chaos, More than 100 farmers and hauliers stopped nearly two million litres of Shell petrol from leaving the Stanlow Refinery, Stanlow Refinery owner responds to reports of financial struggle, Essar, which owns the site in Ellesmere Port, released a statement after reported fears about the company's future, Thick black smoke clouds billow from Stanlow oil refinery, People have reported seeing black smoke pouring from the area, Fascinating story of secret island near Ellesmere Port you may never have heard of, The island was inhabited by a small community up until the 1980s, Petrol station fuel disruption likely as Cheshire tanker drivers set to strike, Workers at Hoyer Petrolog voted in favour of action throughout November, Pictures show clouds of thick smoke following 'issue' at Stanlow Refinery, The thick clouds of smoke were seen as far as North Wales, Recap: Essar respond over 'issue' at Stanlow Refinery following huge clouds of smoke, Huge plumes of smoke can be seen across Cheshire, Stanlow near Ellesmere Port makes first step towards becoming carbon neutral site, Government funding helping companies like Essar move to a low carbon future, New Essar Oil UK CEO to be based at Stanlow in Ellesmere Port, Mark Wilson has been announced as the new chief executive officer. Stanlow refinery at a crossroads | Global Energy Infrastructure Whyare oil prices rising and what does it mean for inflation? Essar Oil UK will build the 360m site at Stanlow refinery in Ellesmere Port to help reduce carbon emissions. Straddling both the northbound and southbound carriageways the module will then be slowly and carefully moved at walking pace some three miles onto Essar Oil UKs Stanlow site, exiting the M53 at junction 10 and travelling along the A5117 local road. Stanlow oil refinery stands in Ellesmere, U.K. Want the lowdown on European markets? Live market coverage co-anchored from Hong Kong and New York. Essar Oil UK will build the 360m site at Stanlow refinery in Ellesmere Port to help reduce carbon . Shell said the cost of fixing the damage was "not economically viable". The BBC is not responsible for the content of external sites. The refinery is situated on the south bank of the Manchester Ship Canal, which is used to transport seaborne oil for refining and chemicals for Essar and Shell. Essar Oil has also reduced the amount it owed to HMRC, after it took part in a scheme that allow companies hit by Covid-19 to defer VAT repayments. Oil refinery woes raise concern in Westminster over financial backers Or by navigating to the user icon in the top right. More than ten years of experience in the fuel market, with extensive knowledge in the logistical flows of liquid fuel distribution in Brazil, interface and communication with players in the fuel sector (refiners, trading . The adjacent oil refinery at Stanlow is owned by Essar and is not affected. Buffett Will Beat theMarket asRecession Looms, Investors Say, Rivians Troubles Dont End at a 93% Wipeout, First Republics Jumbo Mortgages Brought On Banks Failure, Asia Stocks Set for Mixed Start as Treasuries Drop: Markets Wrap. Essar Oil UK insisted: "No [borrowing] facilities were withdrawn solely due to governance issues". VideoOn board the worlds last surviving turntable ferry, I didnt think make-up was made for black girls, Why there is serious money in kitchen fumes. The jobs were placed at risk following a fire at the plant in August. The situation has alerted officials in Whitehall because of the implications of a collapse of a company responsible for supplying one-sixth of the UK's transport fuels - including through a pipeline from Stanlow to Manchester Airport. It lies on the western slope of the Espinhao Mountains, at an elevation of 2,720 feet (830 metres). REFINERY NEWS ROUNDUP: Market focus on closures in Europe * The plant was closed early in the second quarter 2011. . The fire which broke out at Stanlow last August. Phillips 66 puts Alliance, Louisiana refinery up for sale Stanlow refinery, which supplies a sixth of Britain's petrol, in crisis talks with HMRC. Here are Your Options. A good diversion using the A550 and A494 trunks will operate between between junction 5 and junction 11 at Stoak Interchange where the M53 meets the M56. production planned c.US$1 /bbd projects already. Essar Oil UK said it had historically been "a very profitable business that has attracted over $1bn in investment since its acquisition in 2011". Follow Bloomberg reporters as they uncover some of the biggest financial crimes of the modern era. (modern). @MarkKleinmanSky. The sale of Stanlow will leave the Anglo-Dutch company with no refiningassets at all in the UK, having closed the Shell Haven refinery near London in1999. [18] In September 2021 it was reported that the facility is at the "brink of collapse". Essar Oil UK expects positive cash flow in April 2021. A new refinancing deal could buy time for the refinery to maintain operations until fuel demand rises. More information on the project is available at Essar Oil UKs website. Sign up to the daily Business Today email or follow Guardian Business on Twitter at @BusinessDesk, Original reporting and incisive analysis, direct from the Guardian every morning, 2023 Guardian News & Media Limited or its affiliated companies. Bloomberg Daybreak Asia. "The government continually monitors fuel supply across the country to ensure the public do not see any disruption. City editor Essar Oil UK responds to speculation Stanlow oil refinery firm is 'on [3], Stanlow has a refining capacity of 12 million tonnes per year with a barrel per day capacity of 296,000. [2] Until 2011 it was owned by Shell UK. "This will provide us with low carbon hydrogen to decarbonise our energy demand, while in addition creating a hydrogen economy across North West England and North East Wales. Video, On board the worlds last surviving turntable ferry, Shooting suspect was deported four times - US media, Yellen warns US could run out of cash in a month, King Charles to wear golden robes for Coronation, More than 100 police hurt in French May Day protests, Disney faces countersuit in feud with Florida, NFL player's daughter, aged two, drowns in pool, Explosion derails train in Russian border region, MasterChef Australia host Jock Zonfrillo dies. [1] Essar has stated their desire to expand the site with a 25% increase in output. delivered c.US$225 million uplift to EBITDA.
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