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Essar Oil says Shell talks exclusive till Nov 30

Reuters

Tue Nov 3, 2009 7:16am EST

NEW DELHI, Nov 3 (Reuters) – India’s Essar Oil (ESRO.BO) said on Tuesday its exclusive talks with Royal Dutch Shell Plc (RDSa.L) to buy three of the global oil major’s European refineries will run until Nov 30.

The talks were announced on Friday. [ID:nLU627560]

Essar Oil Chief Executive Naresh Nayyar told reporters the deal was being pursued as part of plans to have a refining capacity of 1 million barrels a day.

The firm currently runs a 280,000 barrel-per-day refinery in Vadinar in Gujarat, and owns 50 percent stake in a Kenyan refinery. (Reporting by Nidhi Verma; Editing by John Mair)

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