Hotline: 1800 102 2007
X
Search Business Opportunities
Feb, 07 2019

Essar buys stake in oil terminals & pipeline from BP Plc

Essar Oil UK has acquired 11.15% stake in UKOP, 45% stake in Kingsbury Terminal and the whole 100% stake in Northampton Terminal.

In order to expand its business in the UK, Essar Oil UK, part of the Ruias’ Essar Group, has acquired stakes in two terminals and one pipeline from BP Plc.

Essar Oil UK has acquired an 11.15% stake in the United Kingdom Oil Pipeline (UKOP), a 45% stake in the Kingsbury Terminal and the whole 100% stake in the Northampton Terminal.

S Thangapandian, Chief Executive Officer, Essar Oil UK, said, "The transaction gives us the ability and infrastructure to move products from Stanlow refinery to other destinations boosting our logistics infrastructure." 

Essar Oil bought the Stanlow unit in 2011. Since then, the company has invested more than $850 million in the refinery to turn it around.

"The acquisition will allow Essar to maintain its presence in a very competitive UK Midlands region and grow that current footprint. In addition to expanding our fuel retail network, we will be bidding for new airports where we are not present. Our access has been more into Liverpool, Leeds and Manchester. Post this deal, we will be looking at airports around Kingsbury and Northampton where we can reach," Thangapandian further stated.

Comment
Related opportunities
  • After School Activities
    About Us: Brightt kids began its journey from Pune and over..
    Locations looking for expansion Maharashtra
    Establishment year 2009
    Franchising Launch Date 2017
    Investment size Rs. 2lac - 5lac
    Space required 200
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Pune Maharashtra
  • Luggage, Hand bags & Backpacks
    About Us: Welcome to Doubleu Bag. We are proud to introduce..
    Locations looking for expansion Rajasthan
    Establishment year 2017
    Franchising Launch Date 2018
    Investment size Rs. 10lac - 20lac
    Space required 200
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Jaipur Rajasthan
  • Join Hands With No.1 U.K. Concept International Preschool Chain SANFORT is..
    Locations looking for expansion Uttar Pardesh
    Establishment year 2009
    Franchising Launch Date 2010
    Investment size Rs. 10lac - 20lac
    Space required 2000
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Ghaziabad Uttar Pardesh
  • Tea and Coffee Chain
    Cafechocolicious brings a proven business model to start in Coffee..
    Locations looking for expansion Maharashtra
    Establishment year 2015
    Franchising Launch Date 2015
    Investment size Rs. 5lac - 10lac
    Space required 200
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Pune Maharashtra
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities