BUSINESS PROFILE :
Essar Oil, part of the Essar Group, incorporated in 1989, has three main divisions namely energy, offshore exploration and petroleum products and has 700 retail outlets on the basis of the franchisee model. Its offshore division undertakes construction related to the oil industry for extraction of oil and/or gas reserves. The oil and gas exploration division undertakes exploration activities.
The company was one of the first private companies to bid for exploration blocks in 1993. It produces LPG and transport fuels including petrol conforming to Euro III and Euro IV product quality standards for the domestic and export markets. The company has a $ 2.14 bn refinery at Vadinar Power Company (VPCL) as its subsidiary. With a capacity of 10.5 MTPA (expected to rise to 12 MTPA after de-bottlenecking), the refinery complex aims at producing middle distillates like aviation turbine fuel, kerosene oil and high-speed diesel, which forms over 60% of India`s demand.
The new Project Management Consultants (PMC), a consortium of two reputed engineering companies in the world, comprising ABB Lummus and Sembcorp Engineers, Singapore, have put together a detailed plan of engineering, procurement and site supervisory services for its refinery project at Vadinagar, Gujarat as well as for Vadinagar Oil terminal. The company also plans to further increase capacity and equip itself with the capability to produce products across the value chain. The upgradation and optimization will involve additional process units.
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