31 October 2012 11:12 [Source: ICIS news]
LONDON (ICIS)--Mauritius-headquartered Essar Energy is pursuing the closure of base oils production at its Stanlow refinery in the UK, but is yet to announce a date, a company spokesperson said on Wednesday.
Essar Energy will look to stop the Stanlow unit, which has a nameplate capacity of 260,000 tonnes/year of Group I base oils, in a bid to improve its refining margins.
“We are pursuing the closure of our base oil production; the rationale is straightforward as with base oil production we have 1-2% of our production driving 25% of a more expensive crude slate,” explained a company spokesperson.
Essar Energy, which said back in May it was considering a reconfiguration of the refinery, added that the closure of base oil production would not result in redundancies.
The company completed the purchase of the Stanlow refinery from Shell in August 2011.
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