Business EconomyPosted at: Jul 7 2026 8:44PM


Essar Energy Transition Renews Strategic Crude Facility Agreement with Petraco Oil Company SA

Mumbai, July 7 (UNI) Essar Energy Transition has renewed its strategic crude facility agreement with Petraco Oil Company SA, reaffirming market confidence in the company's performance and positioning in the UK energy sector, according to a statement issued by Essar Group in Mumbai.
Under the renewed three-year agreement, Petraco will provide a US$300 million crude and product facility to Essar Energy Transition Fuels, the owner and operator of the Stanlow Refinery in the UK.
According to the company, the facility will strengthen feedstock security amid a volatile global energy market while diversifying crude sourcing and product marketing options. It will also support Essar's refining and trading activities and further strengthen its capital structure.
Essar Energy Transition Fuels reported strong commercial performance following a landmark investment year, achieving its highest-ever domestic sales and production since acquiring the refinery. The company is also investing in low-carbon energy solutions and the decarbonisation of its industrial assets.
Commenting on the agreement, Satish Vasooja, Chief Financial Officer of Essar Energy Transition Fuels, said, "We're delighted to renew our partnership with Petraco. This important transaction demonstrates the strength of this strategic relationship and will ensure that we can build on our strong commercial performance."
Alberto Salsiccia, Chief Financial Officer of Petraco Oil Company SA, said, "We're pleased to have concluded this trading facility for the next three years with Essar, a UK national energy player. This demonstrates Petraco's ability to collaborate with business partners and deliver mutual benefits."
Petraco has been a long-standing business partner of Essar. The renewed facility marks another significant step in Essar Energy Transition's strategy to strengthen relationships with leading global industry players.
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