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Essar Oil (UK) ties up over $850 million in new funding - The Hindu BusinessLine

Essar Oil (UK) ties up over $850 million in new funding May 21, 2021 Prashant Ruia× With these financial arrangements in place, EOUK has more low-cost liquidity to meet its upcoming requirements Essar Oil (UK) Limited (EOUK), which owns and operates the Stanlow Refinery, said it has closed new financial arrangements of over $850 million. This has allowed EOUK to replace its former credit facility as well as access additional capital, thereby strengthening its financial position. The funding is made up of liquidity from a diversified range of sources, including bilateral arrangements with many of its key customers on enhanced payment terms and other long-term financings, linked primarily to crude supply, the company said in a statement.

Essar Oil UK raises $850 mn from diverse sources to retire earlier loans

Government minister sees how Ellesmere Port Stanlow site is committed to low-carbon future

A GOVERNMENT minister paid a visit to an Ellesmere Port plant to see how its is focusing on a low-carbon future. Essar hosted a visit to Stanlow Refinery on Friday, May 14 by Andrew Stephenson MP, Minister of State at the Department for Transport. The Minister met senior company representatives and discussed plans to create a new facility to convert non-recyclable household waste into sustainable aviation fuel (SAF) for use by airlines operating at UK airports. The project involves Essar Oil UK, Fulcrum BioEnergy and Essar’s subsidiary company Stanlow Terminals Limited, and will convert several hundred thousand tonnes of preprocessed waste, otherwise destined for incineration or landfill, into approximately 100 million litres of low carbon SAF annually.

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