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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. ....

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