‘Indian energy firm tables Stanlow bid’
STANLOW oil refinery in Ellesmere Port could be heading into Indian hands, according to reports.
Essar, the Mumbai-based energy, steel and shipping group has tabled a £1.2bn bid to Royal Dutch Shell, which is selling Stanlow and two refineries in Germany, reports in India said.
More than 800 people work at Stanlow, which is the UK’s second-largest oil refinery. The 173-acre site processes 12 million tonnes of crude oil every year, mostly from the North Sea, and is responsible for one sixth of all UK petrol – 4,000 million litres a year.
It is Shell’s last remaining UK refinery.
Royal Dutch Shell is reportedly seeking £1.5n for the three refineries. The energy giant is shifting its refinery investments to Asia. while growth-hungry Middle Eastern and Asian companies seek a foothold in Europe.
The deadline for bid passed yesterday. Middle Eastern sovereign wealth funds and Libya’s National Oil Corporation are understood to have run the rule over the refineries.
