Essar Group and International Resources Holding (IRH) have announced the successful execution of a USD 500 million crude sourcing facility and product supply facility between Essar Energy Transition Fuels (EETF) and IRH Global Trading.
The agreement is designed to strengthen crude procurement capabilities and enhance product marketing flexibility for Essar Energy Transition Fuels, which owns and operates the Stanlow Refinery in the United Kingdom. The facility will also support the company’s working capital optimization efforts while improving feedstock security amid evolving global energy market dynamics.
IRH, headquartered in Abu Dhabi, is a global mine-to-market platform that invests in minerals critical to energy transition and technological advancement. Its wholly owned subsidiary, IRH Global Trading, serves as a global energy trading and liquidity provider.
According to the companies, the facility will enable EETF to diversify its crude sourcing channels and product marketing options, helping the business respond more effectively to changing market conditions while creating value across its refining and trading operations.
The transaction marks a significant step in Essar Energy Transition Fuels’ strategy to deepen relationships with leading global industry participants. It also reinforces IRH Global Trading’s role in facilitating secure and efficient energy flows across international markets while supporting operational optimization for downstream refining assets.
Prashant Ruia, Chairman of Essar Energy Transition, said the partnership represents a strategically important transaction for the Stanlow refinery and reflects the company’s commitment to strengthening its energy supply chain.
“We are delighted to partner with IRH Global Trading on this strategically important transaction for our Stanlow refinery in the UK,” Ruia said.
Ali Rashed Al Rashdi, Chief Executive Officer of IRH, said the agreement will enhance supply security and operational resilience at one of the UK’s key refining hubs.
“We are pleased to partner with Essar Energy Transition Fuels to enhance supply security and operational resilience at a critical UK refining hub,” Al Rashdi said.
Essar Group, a diversified global conglomerate with operations spanning energy, infrastructure, metals and mining, technology, and retail sectors, is investing in low-carbon energy solutions and the decarbonisation of its industrial assets through Essar Energy Transition Fuels as part of its broader energy transition strategy.
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