Essar Oil
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Public limited company[1] | |
Industry | Oil and gas |
Headquarters | Mumbai, India |
Key people |
Ravi Ruia, Chairman Lalit K Gupta, MD, CEO |
Products | Petroleum, fuels, natural gas and other petrochemicals |
Revenue | ₹983.53 billion (US$15 billion) (2014)[2] |
₹21.55 billion (US$320 million) (2011) | |
Total assets | ₹210.84 billion (US$3.1 billion) (2011) |
Owner | Essar Group |
Parent | Essar Energy plc[3] |
Website |
www |
Essar Oil is an India-based company engaged in the exploration and production of oil and natural gas, refining of crude oil, and marketing of petroleum products. It is a part of the Essar Group based in Mumbai. It operates a major refinery in Vadinar, Gujarat, India, which made it the second largest non-state refiner in India in 2009.[4]
In July 2009, Essar acquired a 50% stake in Kenya Petroleum Refineries Ltd.[5] In July 2012, following Gujarat High Court's directions Gujarat Government seized three bank accounts of the company to recover its tax dues of Rs80 billion.[6]
It was a publicly traded company (NSE: ESSAROIL & BSE: 500134),until it was taken private in a leveraged buyout which closed on December 30, 2015.[7] It delisted the company valued at ₹380 billion (US$5.6 billion) by paying ₹37.45 billion (US$560 million).[8][9]
References
- ↑ "Essar Oil completes delisting in record Rs 3,745-cr payout". Essar Oil completes delisting in record Rs 3,745-cr payout. Retrieved 31 December 2015.
- ↑ "moneycontrol". moneycontrol. Retrieved 2015-02-05.
- ↑ "Essar Energy" (PDF).
- ↑ "Essar May Rise After Report That Shell May Acquire 10% Stake". Bloomberg. 23 November 2009.
- ↑ Sharma, Rakesh (3 November 2009). "Essar Oil CEO: Exclusive Talks With Shell to End Nov. 30". The Wall Street Journal.
- ↑ "Gujarat govt attaches Essar Oil's bank accounts to recover tax dues". The Times Of India. 9 July 2012.
- ↑ "Essar Oil completes largest delisting". Business Standard. Retrieved 31 December 2015.
- ↑ "Essar Oil delists in Rs 3,745 cr payout". The Hindu. 31 December 2015. Retrieved 31 December 2015.
- ↑ "Essar Oil completes delisting process with Rs 3,745-cr payout". The Indian Express. Retrieved 31 December 2015.