Essar Energy Transition Fuels and IRH agree USD 500 million crude and product facility
- USD 500 million crude sourcing and product supply facility executed between Essar Energy Transition Fuels and IRH Global Trading.
- Facility aims to diversify crude sourcing and marketing, optimise working capital, and strengthen feedstock security for the Stanlow refinery in the UK.
- IRH is an Abu Dhabi‑headquartered mine‑to‑market platform and a global energy trading and liquidity provider.
- Essar Energy Transition Fuels is owner and operator of the Stanlow refinery and is investing in low‑carbon energy solutions and asset decarbonisation.
Deal
Essar Energy Transition Fuels and IRH Global Trading executed a USD 500 million crude sourcing and product supply facility.
Purpose
The facility is intended to diversify Essar’s crude sourcing and marketing options, optimise working capital arrangements, and strengthen feedstock security for the Stanlow refinery in the UK, improving responsiveness to volatile global energy markets and capturing value across refining and trading activities.
Parties
IRH, headquartered in Abu Dhabi, is described as a global mine‑to‑market platform and a key energy trading and liquidity provider. Essar Energy Transition Fuels is the owner and operator of the Stanlow Refinery and is investing in low‑carbon energy solutions and the decarbonisation of its industrial assets.
Statements
Prashant Ruia said: “We are delighted to partner with IRH Global Trading on this strategically important transaction for our Stanlow refinery in the UK.”
Ali Rashed Al Rashdi said: “We are pleased to partner with Essar Energy Transition Fuels to enhance supply security and operational resilience at a critical UK refining hub.”
Source: Essar
