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U.K. Deal Marks Latest Shift For European Refining Sector

AUGUST 2, 2011

By ALEXIS FLYNN

Essar Energy Monday completed a deal to buy the U.K’s second-biggest refinery at Stanlow, in Northwest England, from Royal Dutch Shell PLC, marking another step in a changing of the guard for the European refining sector as the fully integrated oil majors sell out to a new coterie of owners.

Essar Energy, a subsidiary of the giant Mumbai-based Essar conglomerate owned by Shashi and Ravi Ruia, paid Shell $350 million for what Essar Energy’s Chief Executive Naresh Nayyar says is a valuable, strategically positioned asset that gives the company an outlet to export surplus products made by its giant refinery at Vadinar in the Indian state of Gujurat. read more

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Royal Dutch Shell Sells Refinery, Other Assets To Essar For $1.3B

MARCH 29, 2011

LONDON (Dow Jones)–Royal Dutch Shell PLC (RDSA.LN) Tuesday announced it has signed a sales and purchase agreement for its 270,000 barrel-per-day Stanlow refinery in the U.K. and certain associated local marketing businesses with Essar Oil Ltd. for $1.3 billion.

MAIN FACTS:

-The proposed sale covers oil products, chemicals manufacturing and access rights to certain distribution terminal assets, plus the commercial fuels bulk fuels and local marine fuels businesses associated with the refinery. read more

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Joint Statement by Shell Stanlow refinery parties

Joint Statement from Shell, Essar and the Employee Representatives from the consultation meeting held 14th March 2011

Shell and Essar management have today formally met for the second time to consult with the employee representatives for Stanlow refinery and the associated marketing businesses.

This has included sessions with both non-unionised and unionised representatives on general terms and conditions (as outlined at the first meeting) plus a joint session on pensions.

In response to concerns raised on pensions, Essar recognised the value that Stanlow employees attach to the pension provision and have revised their defined benefit pension proposals.  These now provide for the replication of the Shell pension benefits in the Essar pension plan, so that existing staff will retain their current pension benefits. read more

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Refinery workers reject plans for Shell Stanlow sale to Essar

Out of the frying pan and into the fire… to go from a situation that is bad, to one that is even worse…

By John Donovan

Representatives of the Unite union had a meeting on 1 March with Shell and Essar to discuss the proposed employee transfer arrangements arising from Shell’s pending sale of the Stanlow Refinery to Essar Oil.

Unite was appalled at the proposed plans and is accusing Shell of reneging on its final salary pension scheme promise to employees when they joined the company.

The union says:

“We cannot allow Shell to walk away from their obligations to their loyal staff”.

Workers also have deep concerns over Essar’s alleged ruthless track record in the treatment of employees arising from Essar acquisitions in North America. read more

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Essar Reopens Talks to Buy Shell’s Stanlow Refinery, Times Says

By Lucy Meakin – Jan 16, 2011 1:35 PM GMT+0000

India’s Essar Oil Ltd. reopened talks to buy Royal Dutch Shell Plc’s Stanlow refinery, the Sunday Times reported, citing an unidentified company spokesman.

Shell has given Essar six weeks to submit a firm bid for the U.K. facility, the London-based newspaper said, citing people close to the situation.

To contact the reporter on this story: Lucy Meakin in London at [email protected].

To contact the editor responsible for this story: Daniel Tilles at [email protected]. read more

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Shell Widens Talks On Sale Of European Refineries

Shell Stanlow Refiney

THE WALL STREET JOURNAL

APRIL 28, 2010

LONDON (Dow Jones)–Royal Dutch Shell PLC (RDSB.LN) is still in talks with Essar Oil Ltd. (500134.BY) over the sale of three of its European refineries, but the company has also initiated talks with other parties, Chief Financial Officer Simon Henry said Wednesday.

Other potential buyers include private equity groups and state-controlled oil companies from outside Europe, he said.

Shell entered exclusive talks with Essar over the sale of the three refineries–Stanlow in the U.K. and the Heide and Harburg refineries in Germany–late last year, but talks between the companies have failed to reach a conclusion. read more

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Essar to consider Shell refinery buy in May or June

Reuters UK

Thu Apr 8, 2010 8:16am BST

MUMBAI, April 8 (Reuters) – Indian conglomerate Essar Group will consider buying European oil refineries from Royal Dutch Shell (RDSa.L) in May or June, a top official said on Thursday.

Prashant Ruia, chief executive officer of Essar Group, said the company would consider the acquisition after a planned listing in London of Essar Energy to raise about $2.5 billion.

(Reporting by Pratish Narayanan and Sumeet Chatterjee; Editing by Surojit Gupta)

REUTERS ARTICLE
read more

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Essar Energy Plans to Raise $2.5 Billion in Offer of 25% Stake

BusinessWeek Logo

By Rakteem Katakey

April 8 (Bloomberg) — India’s Essar Group, seeking to buy three refineries from Royal Dutch Shell Plc, said it may raise $2.5 billion by selling shares in the U.K. and elsewhere.

Essar Energy Ltd., a holding company for the group’s energy businesses, plans to offer a 20 to 25 percent stake to institutional investors, the company said in an e-mailed statement today. The proceeds will be spent on the group’s power, refinery and oil and gas exploration projects.

Essar, owned by billionaires Shashi and Ravi Ruia, is raising funds as it seeks to acquire refineries, steel plants and coal and iron-ore mines across the world to compete with rivals. Indian companies including Reliance Industries Ltd. and Bharti Airtel Ltd. have sought assets overseas to take advantage of cheaper valuations after the worst global financial crisis in 70 years. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Essar to Decide on Shell Assets by June

THE WALL STREET JOURNAL

MARCH 30, 2010

By AMOL SHARMA

MUMBAI—Indian conglomerate Essar Group will decide by June whether to move forward with the purchase of three European oil refineries from Royal Dutch Shell PLC as part of its global expansion plans, the company’s chief executive said.

The companies extended their exclusive talks in November without specifying a time frame. Essar Group CEO Prashant Ruia said the company is studying whether the deal makes sense now, given the low refining margins globally in the oil business. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Shell talks to sell refineries to India’s Essar ‘going well’: report

Shell in October announced the "exclusive" talks to sell the assets, comprised of Britain's Stanlow refinery in Ellesmere Port, Cheshire, and two German facilities in Hamburg and Heide. "The fact that the exclusive negotiations have been extended beyond November shows that the discussions are going well," the paper quoted an unnamed Essar manager as saying.

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Sify:com (India): Shell, Essar in tussle over Hazaria

Sify:com (India): Shell, Essar in tussle over Hazaria

“breach of trust case by the Essar group, Shell’s Indian partner in the consortium”

Wednesday, 18 August 2004, 08:20

The LNG terminal and regassification plant at Hazira, being put up by the Royal Dutch/ Shell Group through two special purpose vehicles (SPVs) – Hazira Port Pvt Ltd (HPPL) and Hazira LNG Pvt Ltd – is in the eye of a storm that is threatening to gather momentum in the coming days.

The $700-million Hazira project, expected to be commissioned by late 2004, is facing a breach of trust case by the Essar group, Shell’s Indian partner in the consortium that was granted the letter of intent (LoI) by the Gujarat Maritime Board (GMB) in 1999. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com
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