Essar Oil UK has acquired BP’s stake in the pipeline and terminal assets connected to Stanlow Refinery to boost outbound logistics and enter new markets in the British Midlands. It had acquired the Stanlow Refinery Complex in 2011 from Shell.
Essar Oil UK has acquired 11.5% stake in UKOP pipeline, 45% stake in Kingsbury Terminal and the entire 100% stake in Northampton Terminal. The estimated value of this deal is around $150 million.
The company was dependant on others to evacuate the products from the refinery. With this acquisition it will be able to manage the evacuation much better giving it access to transportation fuel market and aviation fuel market by entering the Birmingham airport.