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Essar Energy turns around Stanlow refinery

Nov 26th, 2012
by John Donovan.
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Essar Energy plc has turned around UK’s second largest refinery Stanlow within a year of taking it over from Royal Dutch Shell, posting a pre-tax profit of USD 197 million in six month to September 30.

Essar Energy turns around Stanlow refinery

Monday, November 26, 2012, 18:31

New Delhi: London-listed Essar Energy plc has turned around UK’s second largest refinery Stanlow within a year of taking it over from Royal Dutch Shell, posting a pre-tax profit of USD 197 million in six month to September 30.

“Current price EBITDA at Stanlow rose to USD 197.2 million, compared with USD 22.2 million in the first eight months of ownership to March 2012,” the company said announcing its second quarter earnings.

Shell divested its refinery assets for not being profitable. read more

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

Aug 2nd, 2011
by John Donovan.
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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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Sunday 31st July is the last day of Shell’s ownership of Stanlow Refinery

Jul 30th, 2011
by John Donovan.
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EMAIL RECEIVED BY JOHN DONOVAN

John,

After 82 years Sunday 31st July is the last day of Shell’s ownership of Stanlow.

Can I thank you for all the help, and publicity, you have given us over the last few years. We are looking forward to becoming part of Essar and are not sorry to see Shell go.

Keep up the good work.

Regards

ENDS

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Shell changes talent mix to meet energy market challenges

Jun 11th, 2011
by John Donovan.
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Skilled recruitment continued as 7,000 people laid off

Royal Dutch Shell has continued recruiting despite laying off up to 7,000 staff in the past few years as it continuously “reprofiles” its talent mix, its HR chief HR has said.

Hugh Mitchell (right), Shell’s chief HR and corporate officer, told the Economist’s Talent Management Summit yesterday that as demand for energy increases worldwide, employers in the sector face a “phenomenal” skills challenge.

New energy demands from countries such as China and India are putting more pressure on the industry to get the right talent, he told delegates at the London event. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Joint Statement by Shell Stanlow refinery parties

Mar 16th, 2011
by John Donovan.
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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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Essar’s Stanlow deal hits union bump

Mar 5th, 2011
by John Donovan.
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S Kalyana Ramanathan / London March 5, 2011, 0:34 IST

Essar Energy’s $350-million deal to buy Shell UK’s oil refinery and associated assets at Stanlow, near Ellesmere Port, Cheshire, has hit a road block. The employee union has rejected the deal in its current form due to differences over pension payout and other issues.

Union members who spoke to Business Standard after the first round of consultation on March 1 said that while they were keen to become part of the Essar Group, they would not allow Shell to wash its hands off certain agreements it had entered into with the employees. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Refinery workers reject plans for Shell Stanlow sale to Essar

Mar 2nd, 2011
by John Donovan.
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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

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Essar Energy to provide $1bn bank guarantee for Shell’s Stanlow refinery

Feb 21st, 2011
by John Donovan.
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21 Feb, 2011, 06.35AM IST, Pradeep Pandey,ET Bureau

MUMBAI: Essar Energy will provide a bank guarantee of $1 billion to close the offer it made to acquire Shell’s Stanlow refinery in the UK, according to a person who is part of ongoing negotiations with banks. This bank guarantee would be over and above the $350 million that Essar Energy agreed to offer for the assets of Stanlow refinery.

“The company (Essar) will finalise the bankers who will furnish the guarantee in the next three to four months,” said the person who requested anonymity as the transaction is still underway. read more

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Essar agrees break fee on Shell’s Stanlow

Feb 19th, 2011
by John Donovan.
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FT.com

By David Blair in London and Tom Burgis in Mumbai: Published: February 19 2011 01:30

Essar Energy has taken a significant step towards buying Shell’s refinery at Stanlow, on the south bank of the Manchester Ship Canal near Ellesmere Port in Cheshire.

Essar has until March 31 to confirm that it wants to buy Stanlow. If it decides not to proceed, it will be liable for a break fee of $50m. If Essar decides to go ahead, Shell will have three days to decide whether to accept – and it will be liable for a $10m fee if it turns down the offer. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Essar may pump Indian fuel into UK

Feb 19th, 2011
by John Donovan.
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Petrol from India is likely to find its way into the UK market for the first time, after Essar Energy bought Royal Dutch Shell’s Cheshire oil refinery for $350m (£216m).

Essar may pump Indian fuel into UK Photo: ALAMY Rowena Mason By Rowena Mason 7:15AM GMT 19 Feb 2011

It is the latest deal in the struggling UK refining industry, which has found it difficult to stay profitable in recent years and is expected to face increasing global competition.

The $350m price tag is about half what Shell was initially expected to get for the Stanlow refinery, following 18 months of negotiations with Essar.

The Indian company, which listed on the FTSE 100 last year, has promised that jobs will be safe and the refinery will remain open.

A spokesman for Essar said the company had already identified a number of investments it wanted to make to increase output from 75pc to nearer 100pc capacity. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Shell receives offer for Stanlow refinery in the UK

Feb 18th, 2011
by John Donovan.
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As one Stanlow insider put it…

“John, Looks like we have been sold by the cowboys to the Indians.”

Shell receives offer for Stanlow refinery in the UK

18/02/2011

Shell today confirmed it has received an offer from Essar Energy to buy its 272,000 barrel-per-day Stanlow refinery and associated local marketing businesses in the UK for a total expected consideration of some $1.3 billion.

In light of Essar’s offer, the two companies today signed an exclusivity agreement until 1st April 2011, under which break fees would be payable if either company fails to sign an asset sales agreement.

Pursuing this deal is aligned with Shell’s strategy to concentrate its global manufacturing portfolio on larger and more sophisticated assets. read more

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Essar Energy, Shell may sign U.K. refinery pact

Feb 18th, 2011
by John Donovan.
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Feb. 18, 2011, 2:08 a.m. EST

By Eric Yep

MUMBAI (MarketWatch) — India’s Essar Energy PLC (ESSR.LN) is likely to sign an initial agreement this week for a possible acquisition of Royal Dutch Shell PLC’s (RDSB.LN) Stanlow refinery in the U.K., a person with direct knowledge of the matter said Friday.

London-listed Essar Energy and Shell are in the final stages of discussions and will likely announce exclusive talks on the refinery sale this week, the person, who declined to be named, told Dow Jones Newswires. read more

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Shell, BP to Close, Sell Oil Refineries in Europe, U.S.

Feb 9th, 2011
by John Donovan.
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By Nidaa Bakhsh – Feb 9, 2011 12:01 AM GMT+0000

Royal Dutch Shell Plc and BP Plc, Europe’s largest oil companies, plan to close and sell refineries in the U.S. and Germany on declining demand for fuels such as gasoline in developed nations.

BP plans to sell its 475,000 barrel-a-day Texas City refinery in Texas and its 266,000 barrel-a-day Carson plant in California, the London-based company said on Feb. 1.

Shell plans to stop oil-processing at its 110,000 barrel-a- day Hamburg facility in 2012 after failing to find a buyer, the company based in The Hague said on Jan. 12.

Following are two tables. The first lists refineries around the world that have shut, are slated for permanent closure or conversion, units idled for economic reasons, and those that are up for sale. The second shows refinery sales that have been agreed or completed since early 2010. Capacity is shown in thousands of barrels of oil a day.

FOR SALE, CLOSURE OR CONVERSION 

Company      Refinery         Status                 Capacity

EUROPE

Shell        Hamburg          Plans to convert       110
             Germany          site into terminal
                              in 2012, after
                              failing to find
                              buyer, company
                              said on Jan. 12.


Shell        Stanlow          Up for sale.           233
             U.K.             Announced in August
                              2009.


NORTH/CENTRAL AMERICA


Shell        Montreal         Conversion to          130
             Canada           terminal after
                              operations ceased in
                              Oct. 2010.


ASIA PACIFIC

Showa Shell  Keihin           Permanent closure      120
             Japan            of Ogimachi crude
                              unit in September
                              2011.


 COMPLETED OR AGREED SALES

Company      Refinery         Status                 Capacity


Shell        Gothenburg       Agreed sale to St1     78
             Sweden           Oy of Finland on Oct.
                              27.


Shell        Heide            Agreed sale to         91
             Germany          U.K.’s Klesch & Co.
                              on Aug. 20.


Shell        Marsden Pt       Shell sells 17%        109
             New Zealand      share to Infratil
                              and government
                              pension fund in
                              March 2010.
  read more
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Essar finalises to buy Shell’s UK refinery for $350 mn

Jan 20th, 2011
by John Donovan.
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19 Jan, 2011, 03.17PM IST, Darshan Mehta,ET

MUMBAI: Essar Oil has finalised the acquisition of Shell’s Stanlow refinery in UK for $350 million dollars, a source close to the deal told ET NOW. The Stanlow refinery is part of the Royal Dutch Shell group with a capacity of 2.37 lk barrels per day. The deal will be announced in the first week of February.

As per the deal, Essar will pay $50 million on signing of the deal, another $100 mn on closing of the deal and $100 mn dollars each in the next 2 years after closing the deal. With crude prices over $91 per barrel, the refining business is becoming more attractive and the sector as such is seeing a turnaround on higher energy demand. European companies are selling their non profitable plants to cut expenses and they fit into Indian refiners global strategy of expansion. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

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

Jan 16th, 2011
by John Donovan.
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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

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Essar bids for Shell’s Stanlow refinery -union rep

Dec 21st, 2010
by John Donovan.
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Reuters Africa

Tue Dec 21, 2010 1:17pm GMT

* Essar makes bid, given deadline to make firm offer

* Shell will withdraw plant from sale if no deal

* Shell continues to withdraw from European refining

By Tom Bergin

LONDON, Dec 21 (Reuters) – Royal Dutch Shell Plc has told employees at its Stanlow refinery that India’s Essar group has made a “credible” bid for the plant, a union official said.

A Shell spokesman confirmed that the Anglo-Dutch oil giant was in talks with Essar and had given the group until the end of February to come up with a firm bid. read more

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