Stanlow sold in $1.3bn India deal
Wednesday 30 March 2011
The UK's second biggest oil refinery has been sold to India's Essar Energy in a $1.3bn (£812m) deal. Essar is paying Shell $350m for the Stanlow refinery, near Ellesmere Port, and $780m for the crude oil and other stock at the site.
The deal is the latest example of Western oil majors withdrawing from the refinery business, citing low margins. China's PetroChina brought Grangemouth refinery in Scotland from the chemicals giant Ineos this year, while Total's UK refinery at Lindsey is on the block.
Stanlow produces one sixth of the UK's petrol and accounts for 15 per cent of production from UK refineries.
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