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The firm will also seek to establish the UK's largest biofuels storage facility at the site, it said. New markets Barrel per day output: 272,000bbl/d (43,200m, This page was last edited on 9 June 2022, at 23:45. Essars subsidiary, Stanlow Terminals, is working on a deal to raise up to $300m of debt and the group said it could also tap other sources of medium-term lending. Essar Energy, which owns the Stanlow oil refinery in Ellesmere Port, Cheshire, is negotiating with HM Revenue and Customs (HMRC) over a 223m VAT payment, delayed because of the pandemic. The fire which broke out at Stanlow last August. 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. The owner of the Stanlow oil refinery is facing a fresh financial crunch ahead of a . ** The Livorno refinery in northwest Italy will stop refining crude and suspend all related activities by the end of 2022, according to an announcement made to trade union representatives by its owner, Italian oil giant Eni, sources close to the plant told S&P Global Platts. Essar said it was already making rapid progress against its broader decarbonisation targets with plans in place for the supply of hydrogen. A statement said Essar's "energy transition strategy" was based on the development of more environmentally friendly fuels. Stanlow Refinery - Significant Potential Completed first year ownership US$350 million acquisition cost . The refinery has been fully offline since late January. Belo Horizonte, city, southern Minas Gerais estado (state), southeastern Brazil. Since early August, the company has increased its daily vehicle shifts from 52 to more than 70, and is aiming to increase deliveries to more than 80 by the end of October, it said. CheshireLive reported in March this year that Stanlow was given an environmental compliance score of 208.3 for 2019 far above the threshold for an F-rating, of 150. 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. The BBC is not responsible for the content of external sites. 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. Hydrogen is a low or zero-emission substitute for fossil fuels. Friday 17 September 2021 15:37, UK. production planned c.US$1 /bbd projects already. The blackout and issues with the startup impacted the effluent [waste] treatment system resulting in oil (hydrocarbon) spilling out into Thornton Brook, and a clean-up is still ongoing. Projects; Analysis; News; Suppliers; White Papers Markets never sleep, and neither does Bloomberg. [3] 04 Aug 2022. Nevertheless, oil industry sources say they are legitimate concerns about the future of the company, which bought the Stanlow refinery at Ellesmere Port from Shell in 2011. 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. Editorial Board. Essar Oil UK Limited announced its plan to build a 360 MM major new carbon capture plant at its Stanlow refinery in line with its ambition to become a leading low carbon refinery by 2030. Published. 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. delivered c.US$225 million uplift to EBITDA. Year end run rate (US$ million) 250. "We thoroughly review any unplanned events and incorporate the learnings in our processes and procedures. The site, which is. Of the national capacity of 60m tonnes of refined fuels per year, Stanlow can produce more than 16% and Lindsey about 9%. 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. The group reported progress in refinancing its debts, replacing a loan from Lloyds Bank with $325m of new lending. 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. 1) Go to our dedicated newsletter page at this link. CR4 Thread Spherical Tanks and Liquefied Petroleum Gas. 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. As a result of that work over the past few months, EOUK has $1.1bn [800m] in liquidity secured. 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. Output is delivered via various means, including by pipeline via the UK oil pipeline network, road and the Manchester Ship Canal. However, the recovery from the pandemic has been slower than predicted, the company said, adding that it hopes for a resolution soon. As part of the work to accommodate the abnormal load, we will need to remove and restore a number of lighting columns and matrix signs from the central reservation, boundary fencing and safety barrier from the verge, some safety barrier from the central reservation and a number of signs. Energy giant Essar said they have already made a series of changes at the Ellesmere Port site, Get our MyWirral newsletter, for the best news, pictures, opinions and video from across the peninsula. HOUSTON, Aug 24 (Reuters) - The fourth-largest U.S. refiner Phillips 66 (PSX.N) on Tuesday said it has put the smaller of its two Louisiana refineries up for sale amid continued losses and an . Stanlow oil refinery stands in Ellesmere, U.K. Want the lowdown on European markets? 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. 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 to HM Revenue and Customs. 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. The National Grid was approached for comment. "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. The government has a net zero target by 2050. [4] Consequently, it is the second largest in the United Kingdom after Fawley Refinery,[5] and produces a sixth of the UK's petrol needs. Essar Oil said it wants to be at the forefront of the UK's shift to low carbon energy, Essar Oil said they would complete their "energy transition strategy" by 2030, On board the worlds last surviving turntable ferry. "This will provide us with low carbon hydrogen to decarbonise our energy demand, while in addition creating a hydrogen economy across North West England and North East Wales. The pipeline had closed by 1990.[9][10]. 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. Follow Bloomberg reporters as they uncover some of the biggest financial crimes of the modern era. Private equity firm Bartons Family Capital is weighing a takeover of the U.K. Stanlow oil refinery, The Times reported on Sunday. 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. 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. Buffett Will Beat theMarket asRecession Looms, Investors Say, Rivians Troubles Dont End at a 93% Wipeout, First Republics Jumbo Mortgages Brought On Banks Failure, Asia Stocks Set for Mixed Start as Treasuries Drop: Markets Wrap. [12] Oil products were loaded into a fleet of 100 road tankers for distribution. Previously the refineries were owned by the oil firms Shell and Total,. LOG IN to view this article.Not Yet A Subscriber? How to sign up for a MyWirral Email Update. Hindustan refinery to restart in 2 months Oil amp Gas Journal. A spokesperson for Essar said 2019 had been a "challenging year" from an environmental perspective and changes had already been made since the report. 100. 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. It has also announced plans to close the 110,000 b/d Harburg refinery inGermany after failing to find a buyer for the plant. M53 closure to help construct hydrogen-powered refinery, More information on the project is available at Essar Oil UKs website. An insider said that a covenant waiver from Lloyds Banking Group, Essar Oil UK's main lender, had expired at the end of March, forcing the company to seek new sources of funding. The jobs were placed at risk following a fire at the plant in August. The site, which is managed by energy giant Essar, suffered a complete loss of power from the National Grid in 2019. 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. The Mexico City Explosion of 1984 Missouri S amp T. ?Stanlow United. Despite sanctions on Russian shipping, Russian oil continued to arrive at port on ships owned and flagged in other countries. 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. To help with the delivery, we are closing the M53 for a night next week. It still owes 223m, and was reportedly due to start repayments this week. It lies on the western slope of the Espinhao Mountains, at an elevation of 2,720 feet (830 metres). LNG Processing. The owner of Britain's second-biggest oil refinery has been hit by the resignation of two blue-chip City law firms amid a deepening financial and corporate governance crisis at the company. We're paving the way for cutting carbon emissions at one of the country's biggest oil refineries. 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. This documentary-style series follows investigative journalists as they uncover the truth. The BBC is not responsible for the content of external sites. Patterson-UTI to buy Pioneer Energy Services for $295m. 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. On board the worlds last surviving turntable ferry. The module will be mounted on two wheeled platforms - one on each carriageway - and will look a bit like the bridge of a container ship gliding down the motorway. 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. Private equity firm Bartons Family Capital is weighing a takeover of the U.K. Stanlow oil refinery, The Times reported on Sunday. We're paving the way for cutting carbon emissions at one of the countrys biggest oil refineries. Video Loading The refinery is located on the south bank of the River Mersey, flanked on its west by the M53 and M56 to the south. Essar Oil UK insisted: "No [borrowing] facilities were withdrawn solely due to governance issues". @MarkKleinmanSky. Essar Oil UK expects positive cash flow in April 2021. In your inbox before the open, every day. Yes vote. Essar Oil UK will build the 360m site at Stanlow refinery in Ellesmere Port to help reduce carbon . Here are Your Options. All companies under the TTP have been given until January 2022 to meet their commitments. Stanlow has been beset by problems in recent times, with an unplanned shutdown in 2019 triggering a significant oil spill. 2023 BBC. The Stanlow refinery supplies about a sixth of the UKs road fuel. Overnight on Wall Street is daytime in Asia. Live from New York and Hong Kong, bringing you the essential stories from the close of the U.S. markets to the open of trading across Asia. 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. Track your investments 24 hours a day, around the clock from around the world. Man run over and attacked by gang armed with weapons, Club of the Year celebrate St Helens CAMRA honour, Tranmere man, 32, arrested after 'serious assault' in Rock Ferry, Pictures show ongoing demolition of St Peter & Paul's Catholic church, Popular Liverpool holiday destinations issue ban ahead of summer, Widnes garage fire started by electrical hand tool, More than 20,000 Russians dead in Bakhmut, US says, Lil Nas X and Florence Pugh arrive at Met Gala, France May Day protests leave dozens of police injured, 'My wife and six children joined Kenya starvation cult', On board the worlds last surviving turntable ferry. Essar Oil UK will build the 360m site at Stanlow refinery in Ellesmere Port to help reduce carbon . Linklaters and Ashurst have quit as advisers to Essar Oil UK amid doubts about its future, Sky News learns. There is also a pipeline for jet fuel to Manchester Airport. After arriving by ship from Thailand to the Port of Liverpool in June it was transferred to a barge for the short trip across the River Mersey, through the locks into the Manchester Ship Canal and onto a holding bay near National Waterways Museum at Ellesmere Port. 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. 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. did a similar move in 2016 and a year earlier the same occurred at Essar Stanlow." "The driver is to supply only the nearest (highest margin) markets and reduce the amount of product from the refinery that moves in to lower margin markets and decrease . "We are also working with Fulcrum BioEnergy to create a new facility which will convert several hundred thousand tonnes of non-recyclable household waste each year into sustainable aviation fuel (SAF) for use by airlines operating at UK airports.". 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. Stanlow later said it was seeking alternative supplies. Stanlow Refinery is an oil refinery owned by Essar Energy in Ellesmere Port, North West England. Vicente's mommy. The report said that while financing proposals were under discussion, to mitigate the risk of the company defaulting on payments, the talks had not concluded. EOUK had agreed to an accelerated schedule to make this payment. Member of the Brazilian Academy of Sciences and . We use your sign-up to provide content in the ways you've consented to and improve our understanding of you. Is climate change killing Australian wine? Thats almost five times higher than a double decker bus and six times wider than one of our famous orange salt spreaders. The plant would have the same carbon-reducing effect as taking 400,000 cars off the road, Essar said. The Department for Business, Energy and Industrial Strategy said on Friday: "We do not comment on individual companies. Two years on from Stanlow air pollution action plan - what has changed? Explore in 3D: The dazzling crown that makes a king. 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. We also may change the frequency you receive our emails from us in order to keep you up to date and give you the best relevant information possible. The sale of Stanlow will leave the Anglo-Dutch company with no refiningassets at all in the UK, having closed the Shell Haven refinery near London in1999. This means that we may include adverts from us and third parties based on our knowledge of you. An unplanned shutdown at Stanlow refinery in Ellesmere Port caused an oil spill which contributed to the Environment Agency giving the site their lowest compliance rating. In 2010, Royal Dutch Shell declared their desire to sell off some refineries in Europe to concentrate on emerging markets in Asia and the Middle East, which led to the possibility that Stanlow would be shut down indefinitely. Over 400 workers had overwhelmingly voted in favour of strike action in September, returning a 98.5 per cent yes vote. The Stanlow refinery is located on a 770ha-site on the southern of the Mersey Estuary, near Ellesmere Port, Cheshire, UK. A new refinancing deal could buy time for the refinery to maintain operations until fuel demand rises. 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. Welsh band Jesu's 2007 album Conqueror features a track titled "Stanlow" that concerns itself with the refinery. "We are currently investigating Essar for breaches of their environmental permit and as such are unable to comment further. 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. City editor Although situated in North West England, the refinery serves much of England as it is linked to the UK oil pipeline network. 9th April 2021. Read about our approach to external linking. On Saturday 13 August it will be moved away from the canal a few hundred yards onto the neighbouring M53 via the southbound entry slip road at junction 8. UK chief executive Deepak Maheshwari said the plant would be "the single biggest initiative to decarbonise our processes". This page is not available in other languages. "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 said Stanlow was operating as normal during the current fuel crisis, and supplying fuel to north-west petrol stations as normal, as panic buying hits forecourts across the country. ", Stanlow refinery owner hit by legal resignations amid governance row, Stanlow oil refinery is at Ellesmere Port. [18] In September 2021 it was reported that the facility is at the "brink of collapse". [2] Until 2011 it was owned by Shell UK. Essar said: "As we have previously stated, 2019 was a challenging year from an environmental perspective. Caption: The module has already been moved across the River Mersey and up the Manchester Ship Canal to a landing site next to the M53 in readiness for next week's three-mile move by road to Stanlow. [19], Stanlow's position as one of the largest and well-known refineries in the country, has led to numerous protests over a number of decades. [3], Stanlow has a refining capacity of 12 million tonnes per year with a barrel per day capacity of 296,000. It that happened, the refinery would be likely to be taken on by the official receiver, to keep the refinery running. All rights reserved. Explore in 3D: The dazzling crown that makes a king. But the Sunday Times reported that the government was on alert in case Stanlow collapsed, and that it could go into insolvency if it could not raise more funds. Cheshire West and Chester Council said it was "saddened and disappointed by the news" and would do everything it could to help anyone who may need to look for new employment. * The plant was closed early in the second quarter 2011. . It handled 5,000 tonnes of oil products daily, comprising 22 million gallons (100,000 m3) of white oil and 42 million gallons (191,000 m3) of black oil a year. 200. Or by navigating to the user icon in the top right. Essar Oil UK (EOUK) used the governments pandemic VAT deferral scheme last year, which allowed businesses to delay tax repayments. [8] Stanlow & Thornton railway station was opened in 1940 to give workers access to the site and the facility an extra mode of transport. 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. 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. 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). Today we released full details of the overnight motorway closure including diversion information. A multimillion-pound carbon capture plant is to be built at an oil refinery in Cheshire. 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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. 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. Signing up is free and it only takes a minute for you to get the biggest stories, sent straight to your inbox. Refinery Firefighting. This has been a huge logistical challenge for everyone involved but well be closing the motorway at a time when traffic is at its lightest and a very good diversion will be in place.. 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. 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. Dockworkers have called this a loophole in sanctions.[23][24][25]. [16] Essar plan a 250 million expansion of Stanlow, with production of diesel and aviation fuel to be increased.

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