ROSNEFT AND TRAFIGURA-UCP ACQUIRE ESSAR OIL
Essar Energy and Oil Bidco successfully conclude sale of Essar oil Limited to Rosneft and Trafigura-UCP Consortium for USD 12.9 Billion
Russian oil major Rosneft and partners closed their $12.9 billion purchase of Indian refiner Essar Oil on Monday (21st August), giving them a foothold in one of the world’s fastest growing oil users.
The deal includes EOL’s 20 MTPA Vadinar Refinery (one of the world’s largest, with a complexity index of 11.8), its pan-India network of over 3,500 retail outlets (representing India’s largest private sector retail network), as well as the associated refinery infrastructure. The transaction perimeter also includes the Vadinar Port (capacity of 58 million tonnes with world-class dispatch and storage facilities) and the Vadinar power plant (a 1,010 MW state-of-the art, multi-fuel unit that supplies both power and steam to the Vadinar refinery).