150. Essar, which is ultimately owned by the Indian billionaire Ruia brothers, has previously distanced itself from its parent companys lending arrangement with the Russian bank VTB. Patterson-UTI to buy Pioneer Energy Services for $295m. Does the UK really need to drill for more North Sea oil and gas? Video Loading Essar Oil UK reported today that sales of products1 from the Stanlow Refinery is expected to see a 63% year-on-year increase to 537kT in April 2021, in comparison to 329kT in April 2020. The future around the long running Stanlow refinery in the Ellesmere Port in Northwest England has been thrust into uncertainty lately due to reports of financial instability from lower fuel demand. I'm graduated as a Chemical engineer (UERJ) with a graduate degree in logistics (IBMEC) and currently studying for a master's degree in logistics (PUC-RIO). Oilfield oil gas trasport pipeline refinery gifts awards. Shell said the cost of fixing the damage was "not economically viable". All rights reserved. "The new furnace is one of the largest objects ever to be moved on UK roads and key to Essars strategy of transitioning to being a low carbon energy provider at the forefront of decarbonisation in the North West.. Thats almost five times higher than a double decker bus and six times wider than one of our famous orange salt spreaders. (modern). Stanlow Terminals Ltd has launched a new ship-to-ship (STS) fuel transfer service on the River Mersey in a joint partnership with Peel Ports Group (PPG). delivered c.US$225 million uplift to EBITDA. Sky News has learnt that Linklaters and Ashurst both recently quit as legal advisers to Essar Oil UK - a relatively unusual move triggered, according to insiders, by anxieties over the running of the business. ", Stanlow refinery owner hit by legal resignations amid governance row, Stanlow oil refinery is at Ellesmere Port. [2] Until 2011 it was owned by Shell UK. "This included the impacts caused by the sudden failure of power to Stanlow from the national grid, which in turn led to the complete loss of the internal electrical supply at Stanlow. Hydrogen is a low or zero-emission substitute for fossil fuels. Refining capacity: 12 million tonnes per year. Track your investments 24 hours a day, around the clock from around the world. Lloyds is said to have become frustrated by a failure to address repeatedly expressed concerns about the Stanlow refinery-owner's governance over a protracted period, as well as a series of delays to the filing of audited accounts. European e-scooter giant Tier Mobility maps route to merger, First Republic: JP Morgan to take over assets after lender becomes fourth to fail in two months, Vue screens former Rank chief Birch for boardroom post. [2] Until 2011 it was owned by Shell UK. "The government continually monitors fuel supply across the country to ensure the public do not see any disruption. The refinery has been fully offline since late January. All companies under the TTP have been given until January 2022 to meet their commitments. Private equity firm Bartons Family Capital is weighing a takeover of the U.K. Stanlow oil refinery, The Times reported on Sunday. He added: "Not only is it the right environmental thing to do, it will future-proof the critical Stanlow Refinery for the long term, protecting jobs and industry, while also placing Stanlow at the very centre of the UK's energy transition.". Read about our approach to external linking. [20][21] A large fuel price protest was staged in May 2011 with the objective of "shutting down" the refinery. as panic buying hits forecourts across the country. Multiple reports have indicated that investment firm Apollo Global Management of New York has been in talks on some level for a potential 400 million refinancing agreement for the complex. Stanlow Refinery is an oil refinery owned by Essar Energy in Ellesmere Port, North West England. The jobs were placed at risk following a fire at the plant in August. "We thoroughly review any unplanned events and incorporate the learnings in our processes and procedures. Petrol tankers fill up with petrol and diesel at the Stanlow oil refinery in Ellesmere Port. Crude oil is now received lower down river on the Mersey at the Tranmere Oil Terminal, operated by the Mersey Docks and Harbour Company from its Liverpool headquarters, and is transferred via a fifteen-mile (24km) pipeline to storage at Stanlow. The owner of the Stanlow oil refinery is facing a fresh financial crunch ahead of a . Or by navigating to the user icon in the top right. "The changes put in place at Stanlow since have already delivered an improved environmental performance in 2020 and we remain determined to build on that progress going forward.". Essar Oil UK insisted: "No [borrowing] facilities were withdrawn solely due to governance issues". As a result of that work over the past few months, EOUK has $1.1bn [800m] in liquidity secured. Essar Oil UK said it had historically been "a very profitable business that has attracted over $1bn in investment since its acquisition in 2011". We're paving the way for cutting carbon emissions at one of the country's biggest oil refineries. Scientists hope to demonstrate that it can be used instead of natural gas in a range of industrial settings, helping companies' transition to a low-carbon future. A Shell spokeswoman said it was "unfortunate" that it did not make economic sense to continue. As the Guardian reported last year, Litasco has a claim on Stanlow that kicks in if Essar defaults on payments under an oil sale and purchase agreement. The Environment Agency - the body sponsored by the government to protect and enhance the environment - regulates the refinery and deemed it was "posing unacceptable risk to health and the environment" giving it an F rating following its compliance inspection in 2019. Other issues that contributed to the poor rating included an accidental loss of containment of a process liquid due to a failure in operating techniques and a crash on-site with a waste line that reduced the effectiveness of their liquid waste treatment capability, fortunately, no one was injured. @MarkKleinmanSky. 200. The threat of industrial action at the Stanlow oil refinery in Cheshire has ended after members of Unite, the UK's leading union, accepted a new deal which covers the issues of pay, bonuses and pensions. Video, On board the worlds last surviving turntable ferry, Shooting suspect was deported four times - US media, Yellen warns US could run out of cash in a month, King Charles to wear golden robes for Coronation, More than 100 police hurt in French May Day protests, Disney faces countersuit in feud with Florida, NFL player's daughter, aged two, drowns in pool, Explosion derails train in Russian border region, MasterChef Australia host Jock Zonfrillo dies. A multimillion-pound carbon capture plant is to be built at an oil refinery in Cheshire. Oil is delivered to the Tranmere Oil Terminal via ship, then pumped to Stanlow for refining and stored for delivery. New markets 2) SUBSCRIBE to Global Energy Infrastructureand gain ACCESS to premium data for the energy industry.*. Refinery Firefighting. The disclosure of the law firms' decision to step down comes just days after it emerged that the company was in urgent talks about its future. Over 400 workers had overwhelmingly voted in favour of strike action in September, returning a 98.5 per cent yes vote. Essar Oil UK employs over 900 staff, and a further 500 contractors also operate at the refinery. The refinery occupies nearly 1,900 acres (7.7km2) near the River Mersey and dates back to 1924, when a small bitumen plant was established. Previously the refineries were owned by the oil firms Shell and Total,. [18] In September 2021 it was reported that the facility is at the "brink of collapse". M53 closure to help construct hydrogen-powered refinery, More information on the project is available at Essar Oil UKs website. Essar Oil . As always you can unsubscribe at any time. The terminal was supplied with light oils via a 41.6km pipeline from Stanlow refinery; heavy oils were delivered by two trains per day from Stanlow, and three daily trains from Heysham refinery. Stanlow was now seeing increased demand for road transport fuels, and the company remained committed to a sustainable future and aiding the UK's decarbonisation agenda, the source said. Unite says it will begin the process to ballot more than 500 members at Essar Oil (UK) at Stanlow, Ellesmere Port on whether they wish to take steps up to and including strike action. Stanlow has been beset by problems in recent times, with an unplanned shutdown in 2019 triggering a significant oil spill. Most populous nation: Should India rejoice or panic? [6] Stanlow is also a large producer for commodities such as jet fuel and diesel.[7]. Gordon Beattie, our abnormal loads manager for the North West said: There are abnormal loads and there are abnormal loads and this one will completely fill the motorway. EOUK had agreed to an accelerated schedule to make this payment. Barrel per day output: 272,000bbl/d (43,200m, This page was last edited on 9 June 2022, at 23:45. [3] History [ edit] Stanlow & Thornton track layout in 1975 The station was opened on 23 December 1940 jointly by the Great Western Railway and the London, Midland and Scottish Railway. This documentary-style series follows investigative journalists as they uncover the truth. Sunday September 26 2021, 12.01am, The Sunday Times. The Stanlow oil refinery supplies about a sixth of Britains road fuel, and is owned by the billionaire brothers Shashi and Ravi Ruia, through their company Essar Oil UK. "We are in an advanced stage of discussions with a replacement lender, with both Stanlow operations and supply of products to our customers continuing as usual. Signing up is free and it only takes a minute for you to get the biggest stories, sent straight to your inbox. 2023 BBC. More information on the project is available at Essar Oil UKs website. LNG Processing. Stanlow Refinery - Significant Potential Completed first year ownership US$350 million acquisition cost . The owner of the giant Stanlow oil refinery has been thrown a 400m lifeline by the taxman amid fears it could collapse, risking operations at the plant and creating fuel shortages. A multimillion-pound carbon capture plant is to be built at an oil refinery in Cheshire. Today we released full details of the overnight motorway closure including diversion information. Essar Oil has also reduced the amount it owed to HMRC, after it took part in a scheme that allow companies hit by Covid-19 to defer VAT repayments. [22], During the 2022 Russian invasion of Ukraine, dockworkers of the Unite union began to refuse to unload Russian oil from any ship. Markets never sleep, and neither does Bloomberg. The BBC is not responsible for the content of external sites. Editorial Board. Published. LNG Processing. Essar said: "As we have previously stated, 2019 was a challenging year from an environmental perspective. All rights reserved. The owner of the UK's Stanlow refinery, Essar Oil UK, has previously said that it has reached an agreement with tax authorities on value added tax payment arrears, it said Sept. 28. It added the firm, which employs more than 900 people at the Stanlow site, with a further 800 on-site contractors and 5,000 more through the extended value chain, was seeking an extension to the 'Time to Pay' agreement with HMRC. "The government has put in place a far-reaching package of support to help businesses across the economy during the pandemic, including the furlough scheme, loans and VAT deferrals. Here are Your Options. The positions at Stanlow in Ellesmere Port are in question following a blaze at the site in August, which damaged the units. Caption: The huge 'module' - part of a hydrogen-powered furnace - will be gliding down the M53 next week en route to Stanlow. [11] This was built on a 90-acre site and was designed to store up to 1 million tonnes of oil. In 2015, Essar Oil (UK) Limited was fined 497,284 and ordered to pay costs of 40,000 in relation to two separate pollution incidents at Stanlow which occurred in 2012 after pleading guilty to three breaches of their environmental permit following a prosecution brought by the Environment Agency. It lies on the western slope of the Espinhao Mountains, at an elevation of 2,720 feet (830 metres). A multimillion-pound carbon capture plant is to be built at an oil refinery in Cheshire. But an auditors report warned of uncertainty over the companys discussions about new loans to help it weather the impact of Covid-19, which significantly reduced demand for fuel before a recent revival in conditions. [16] Essar plan a 250 million expansion of Stanlow, with production of diesel and aviation fuel to be increased. There is also a pipeline for jet fuel to Manchester Airport. 04 Aug 2022. 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[12] Oil products were loaded into a fleet of 100 road tankers for distribution. All material subject to strictly enforced copyright laws. This includes: 4.4 billion litres of diesel every year - enough to drive a car doing 40 mpg 4,000 times around the equator every day 3 billion litres of petrol a year - enough to drive a car 20 million times around the world The government has a net zero target by 2050. Overnight on Wall Street is daytime in Asia. Linklaters and Ashurst both declined to comment. Although situated in North West England, the refinery serves much of England as it is linked to the UK oil pipeline network. Further, the company has now returned to Ebitda positive [earnings before interest, taxes, depreciation, and amortisation] and is therefore in a much stronger position to weather the continued challenge presented by the pandemic, it said. Essar has said that Litasco has no ability to influence operations at the terminal. The Mexico City Explosion of 1984 Missouri S amp T. ?Stanlow United. In 1980, electronic band Orchestral Manoeuvres in the Dark (OMD) from nearby Wirral featured a song about the refinery called "Stanlow" on their second album, Organisation. A source close to Essar Oil UK said the COVID-19 pandemic had depressed margins and impacted demand for its products, along with other refining businesses around the world. The accounts were signed off before the invasion of Ukraine and do not make any reference to the possible impact of the war on the company or its ties to Russia. Essar Energy, which owns the Stanlow. We use your sign-up to provide content in the ways you've consented to and improve our understanding of you. [15] Following the bankruptcy of Petroplus which ran the Coryton Refinery in January 2012, Essar stated their belief that Stanlow, being a large refinery, would be able to compete with refineries in Asia and the Middle East. Year end run rate (US$ million) 250. Sign up to the daily Business Today email or follow Guardian Business on Twitter at @BusinessDesk, Original reporting and incisive analysis, direct from the Guardian every morning, 2023 Guardian News & Media Limited or its affiliated companies. A statement said Essar's "energy transition strategy" was based on the development of more environmentally friendly fuels. "We continue to regulate the site to make sure Essar have the right protection measures in place to minimise the risk of damage to the environment.". Oilprice surges after surprise Opec+ production cut, Opec+ announces surprise cuts in oil production, Climate protesters spared from jail over track invasion at British Grand Prix, Thebillionaire amateur racing driver who runs the Poole oil leak pipeline, North Sea oil and gas workers vote to strike amid bumper profits, Saudi Aramcos $161bn profit is largest recorded by an oil and gas firm. Since 3 February 2022 the station has been temporarily closed due to safety concerns of the footbridge which is the only entrypoint to the station. The site, which is managed by energy giant Essar, suffered a complete loss of power from the National Grid in 2019. Auditors have warned about the financial health of the company behind the Stanlow oil refinery, despite its efforts to refinance loans and settle a debt . Total halted the crude distillation unit at Grandpuits Nov. 16 but the other units at the refinery had previously remained in operation. The new furnace is part of Government-backed plans to include hydrogen in the race to reduce the countrys carbon emissions to net zero by 2050. Thieves sniffed out by police dog after Cheshire oil refinery break-in, Two men from Liverpool fled the scene and hid in undergrowth but were eventually tracked down by police dog Toro, Dramatic video shows huge flames at Stanlow 'lighting up' night sky, People said they saw the sky turn orange as a result of the flaring from the refinery, New 360m plant will secure Ellesmere Port refinery's future and safeguard jobs, Essar says building the carbon capture plant is part of its plans to become a 'leading low carbon refinery' by 2030, Tranmere Rovers chairman takes up role at Ellesmere Port refinery, Mark Palios, former chief executive of the FA, has been appointed to the board of Essar Oil, How giant furnace crawled along M53 before arriving at Stanlow refinery, Essar release images of the overnight delivery of the first-ever hydrogen-powered furnace - the first of its kind in the UK, Waste firm staff at Cheshire's Stanlow Refinery could be set to strike, Unite is currently balloting members employed by Veolia and based at the refinery over possible industrial action, Just Stop Oil protesters could target Cheshire Stanlow refinery, M53 and M56, warns Essar, The company said they will be they will implementing 'additional checks', Strike action threat over as Essar's Stanlow refinery workers accept new pay deal, More than 400 employees had voted overwhelmingly in favour of industrial action back in September, Stanlow Refinery owner unveils plans for hydrogen plants that could attract 750m investment, Essar announced it has submitted plans for the two plants as part of the transition to 'low carbon operations', Essar Oil staff at Stanlow Refinery set for strike action, Further talks are scheduled in the industrial dispute with Essar over pay, pensions and unpaid bonuses, Stanlow Refinery owner Essar reaches agreement with HMRC to help 'stabilise finances', The deal comes after reports that the owner of the Ellesmere Port site was on the brink of collapse, Stanlow refinery firm Essar responds to speculation over collapse, The firm has now responded to 'press speculation' that claimed it's on the brink of collapse, Notorious Stanlow fuel blockade in pictures nearly 21 years after it took Britain to brink of chaos, More than 100 farmers and hauliers stopped nearly two million litres of Shell petrol from leaving the Stanlow Refinery, Stanlow Refinery owner responds to reports of financial struggle, Essar, which owns the site in Ellesmere Port, released a statement after reported fears about the company's future, Thick black smoke clouds billow from Stanlow oil refinery, People have reported seeing black smoke pouring from the area, Fascinating story of secret island near Ellesmere Port you may never have heard of, The island was inhabited by a small community up until the 1980s, Petrol station fuel disruption likely as Cheshire tanker drivers set to strike, Workers at Hoyer Petrolog voted in favour of action throughout November, Pictures show clouds of thick smoke following 'issue' at Stanlow Refinery, The thick clouds of smoke were seen as far as North Wales, Recap: Essar respond over 'issue' at Stanlow Refinery following huge clouds of smoke, Huge plumes of smoke can be seen across Cheshire, Stanlow near Ellesmere Port makes first step towards becoming carbon neutral site, Government funding helping companies like Essar move to a low carbon future, New Essar Oil UK CEO to be based at Stanlow in Ellesmere Port, Mark Wilson has been announced as the new chief executive officer. Most populous nation: Should India rejoice or panic? 1) Go to our dedicated newsletter page at this link. 2) Put your email in the box where indicated. The UKs second biggest oil refinery is locked in talks with tax officials over a deferred tax bill amid reports that it could be on the brink of collapse. (modern). Britain's biggest union is locking horns with Cheshire's giant oil refinery over possible industrial action. About 180 jobs are at risk after energy giant Shell announced the closure of two fire-damaged chemical units within an oil refinery in Cheshire. [17] In April 2021 the company was reported to be heavily in debt after fossil fuel demand dropped during the COVID-19 pandemic. Stanlow plays a key part in the national economy, producing over 16% of the UK's road transport fuels. Vicente's mommy. Whyare oil prices rising and what does it mean for inflation? [1] Essar has stated their desire to expand the site with a 25% increase in output. The situation has alerted officials in Whitehall because of the implications of a collapse of a company responsible for supplying one-sixth of the UK's transport fuels - including through a pipeline from Stanlow to Manchester Airport. Yes vote. And the last leg of its 6,000 mile - and mostly watery journey will be along the strictly terra firma of the M53 motorway and A5117 local road. VideoOn board the worlds last surviving turntable ferry, I didnt think make-up was made for black girls, Why there is serious money in kitchen fumes. Essar Oil UK, which is being advised by EY, also insists it has made considerable progress to strengthen its financial position and agree new financing. The refinery is situated on the south bank of the Manchester Ship Canal, which is used to transport seaborne oil for refining and chemicals for Essar and Shell. Essar has been compiling with the agency and added that they were working towards a zero-carbon future: "We are also committed to playing our part in the decarbonisation of the UK, by reducing our carbon emissions by 50% by 2030 and achieving the Net Zero Emission Target by 2040. It still owes 223m, and was reportedly due to start repayments this week. The manufacturing complex employs 800 people. To help with the delivery, we are closing the M53 for a night next week. Straddling both the northbound and southbound carriageways the module will then be slowly and carefully moved at walking pace some three miles onto Essar Oil UKs Stanlow site, exiting the M53 at junction 10 and travelling along the A5117 local road. The first of Brazil's planned cities, Belo Horizonte occupies a wide plateau encircled by the Curral del Rey Mountains, a hilly ridge forming the "beautiful horizon" for which the city was named. "We continue to work with our legal advisers to adopt best practices in this regard for a private company, including a firm intention to appoint two independent directors in due course.". Essar Oil UK expects positive cash flow in April 2021. [3] Follow Bloomberg reporters as they uncover some of the biggest financial crimes of the modern era. Stanlow directly employs more than 900 people. The refinery is situated on the south bank of the Manchester Ship Canal, which is used to transport seaborne oil for refining and chemicals for Essar and Shell. National Highways will close over night an area of the M53 near Whitby tomorrow (Saturday 13 August) as the biggest single module for the UK's very first hydrogen-ready heater to Essar Oil UK's Stanlow refinery near Ellesmere Port in Cheshire is transferred. In a statement issued to Sky News, Essar Oil UK said it did not comment on "the role of advisers that we work with from time to time". However, this station is now only served by three trains daily towards each of Ellesmere Port (westbound) and Helsby (eastbound), with these services scheduled to depart at times which would be inconvenient for the workers. However, the recovery from the pandemic has been slower than predicted, the company said, adding that it hopes for a resolution soon. A new refinancing deal could buy time for the refinery to maintain operations until fuel demand rises. Two years on from Stanlow air pollution action plan - what has changed?
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