12 February 2013 12:59 [Source: ICIS news]
LONDON (ICIS)--Mauritius-headquartered Essar Energy will stop base oils production at its Stanlow refinery in the UK within the next two months, a company spokesperson said on Tuesday.
Essar Energy will look to stop the Stanlow unit, which has a nameplate capacity of 260,000 tonnes/year of Group I base oils, as part of a wider initiative to improve its refining margins.
An agreement has been reached with customers, and therefore the company said it was moving forward with the closure.
“We are planning to stop lubricant production some time over the next couple of months,” explained the company spokesperson.
Essar Energy, which said back in May 2012 it was considering a reconfiguration of the refinery, added that the closure of base oil production would not result in redundancies, as it was only a small part of the refinery output.
The company completed the purchase of the Stanlow refinery from Anglo-Dutch energy major Shell in August 2011.
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