Sep 27, 2021 08:05 AM IST
Essar Oil said it still needed to pay 223 million pounds ($305 million) to HM Revenue & Customs (HMRC) by January, confirming an earlier report in the Sunday Times newspaper, which said the company had used the government’s pandemic VAT deferral scheme last year.
- Aug 03, 2021 08:19 AM IST
Deepak Maheshwari succeeds Stein Ivar Bye who left the company in April this year due to personal reasons, shortly after joining in October 2020, a spokesperson for the company said.
- Jun 01, 2018 12:26 PM IST
The company is in the process of changing its name to Nayara Energy.
- Apr 20, 2018 07:28 PM IST
Essar shipped in about 132,500 barrels per day (bpd) of oil from Iran in March, a decline of about 41 percent from February, the data showed. Imports from Iran in March were about 46 percent higher than a year ago, the data showed.
- Apr 16, 2018 04:22 PM IST
The company, controlled by Ruia-family of Mumbai that sold Essar Oil to Russia's Rosneft for USD 12.9 billion, has completed efficiency enhancement programme, the Project Tiger Cub, following which Stanlow's annual crude oil processing is projected to go up to 72 million barrels per day from 68 million bpd, he said.
- Apr 12, 2018 05:52 PM IST
The outstanding payments stem from delays in paying for Iranian oil when the country was under international sanctions over its nuclear programme. The sanctions ended in 2016.
- Mar 20, 2018 03:50 PM IST
Russian oil major Rosneft, fund UCP and Swiss commodities trader Trafigura bought Essar Oil's large refinery, 3,500 fuel stations and infrastructure for $12.9 billion last year.
- Feb 05, 2018 06:53 PM IST
RBI had written a letter after the company breached the limit of Liberalised Remittance Scheme while issuing Global Depositary Shares.
- Dec 12, 2017 06:50 PM IST
The shareholders were initially paid Rs 262.80 per share at the time of delisting which worked out to Rs 3,064 crore for the 11.66 crore shares.
- Sep 06, 2017 03:41 PM IST
The investment in revamp of certain units of the refinery would help cut down on crude oil processing cost, improve product slate and lead to marginal increase in capacity, chief executive S Thangapandian said.
- Sep 06, 2017 02:29 PM IST
Rosneft, along with Trafigura and United Capital Partners UCP recently completed the acquisition of 98% stake in Essar Oil for $12.9-billion. The deal asserts that Indian Oil retail market is an attractive investment option for foreign investors.
- Aug 22, 2017 03:15 PM IST
Essar said it received Rs 338.28 per share and, as per its previous commitment, is sharing the same with minority shareholders.
- Aug 22, 2017 07:51 AM IST
Bankers to Essar Oil will get Rs 4,000 crore from Rosneft deal of Rs 82,740 crore (USD 12.9 billion) which will reduce Essar’s Group debt by Rs 70,000 crore
- Aug 21, 2017 10:25 PM IST
Earlier, Essar Oil's new non-executive director, Jonathan Kollek had said, "They (Essar Oil) cannot build a refinery, they cannot build petrol stations. There is a non-compete, forever."
- Aug 21, 2017 08:10 PM IST
Essar Group founder Shashi Ruia said this landmark transaction and the resultant debt reduction usher in a new phase of growth across the group portfolio.
- Aug 21, 2017 07:55 PM IST
The company said it feels the Essar brand is "very strong" and will be retaining the same at the petrol pumps.
- Aug 21, 2017 06:09 PM IST
After months of negotiations, the Essar group today announced the closure of its USD 12.9 billion deal to sell its refining arm to a consortium led by Russian oil major Rosneft.
- Aug 21, 2017 11:56 AM IST
An investment consortium comprising Trafigura and UCP has also announced the closure of their acquisition of a separate 49 percent share of EOL.
- Aug 21, 2017 11:30 AM IST
Rosneft will get a 49.13 percent stake in Essar and the Trafigura-UCP consortium via Kesani Enterprises Company Limited will get another 49.13 percent stake.
- Jul 16, 2017 01:09 PM IST
The agencies have communicated to the home ministry about their security concerns over the deal, the official, who did not wish to be named, said.
- Jun 22, 2017 08:40 PM IST
Rosneft head has that the company was working on a new strategy to counter the challenges of the global oil market and planned to pay higher 2017 dividends.
- Jun 22, 2017 04:01 PM IST
The deal, where Rosneft will hold a 49 percent stake, will allow the Russian company to increase oil refining output by 20 percent this year, he said.
- Jun 19, 2017 08:05 AM IST
"Rosneft, the Russian oil major, who recently took over Essar Oil, are planning in a bigway to tap retail fuel market in India," he told reporters after inaugurating City Gas Distribution (CGD) Project to supply eco-friendly natural gas to households, industries and transport sector, here.'
- May 23, 2017 03:29 PM IST
Crude oil production stood at 2.95 million tonnes in the same month last year, according to a statement by Petroleum Ministry today.
- May 11, 2017 09:25 PM IST
The state-run banks and financial institutions that are delaying Rosneft's biggest foreign acquisition hold about USD 500 million of Essar's debt, five industry and banking sources told Reuters.