Essar Energy Secures Three-Year Funding for Low‑Carbon Projects

A three‑year, $300 million renewal of a crude supply and processing facility has been inked between Essar Energy Transition Fuels and Petroco Oil Company SA. The deal, finalized on 6 July, provides Essar with a reliable feedstock pipeline while earmarking funds for low‑carbon initiatives.

The UK Stanlow refinery, owned and operated by Essar, has demonstrated a strong commercial turnaround, achieving its highest ever domestic sales and production figures since the acquisition.

Essar’s strategic plan focuses on investing in cleaner energy technologies and reducing carbon intensity across its industrial assets. The renewed facility not only secures raw material flow but also bolsters the company’s capital structure, offering greater financial stability.

“This renewal is a testament to the robust partnership we share with Petroco and will enable us to accelerate our low‑carbon roadmap,” said CFO Satish Vasuja. Petroco’s chief financial officer Alberto Salsisia added, “We are pleased to extend this three‑year trading facility, showcasing Petroco’s commitment to collaborative growth with leading industry partners.”