stanlow refinery closure

The UKs second biggest oil refinery is locked in talks with tax officials over a deferred tax bill amid reports that it could be on the brink of collapse. Despite sanctions on Russian shipping, Russian oil continued to arrive at port on ships owned and flagged in other countries. REFINERY NEWS ROUNDUP: Market focus on closures in Europe Stanlow and Thornton railway station - Wikipedia [3], Stanlow has a refining capacity of 12 million tonnes per year with a barrel per day capacity of 296,000. Overnight on Wall Street is daytime in Asia. Essar, which is ultimately owned by the Indian billionaire Ruia brothers, has previously distanced itself from its parent companys lending arrangement with the Russian bank VTB. Sign up here. Barrel per day output: 272,000bbl/d (43,200m, This page was last edited on 9 June 2022, at 23:45. Why not follow BBC North West on Facebook, Twitter and Instagram? Stanlow Refinery - News, views, gossip, pictures, video - Cheshire Live Oilprice surges after surprise Opec+ production cut, Opec+ announces surprise cuts in oil production, Climate protesters spared from jail over track invasion at British Grand Prix, Thebillionaire amateur racing driver who runs the Poole oil leak pipeline, North Sea oil and gas workers vote to strike amid bumper profits, Saudi Aramcos $161bn profit is largest recorded by an oil and gas firm. is achievable. [16] Essar plan a 250 million expansion of Stanlow, with production of diesel and aviation fuel to be increased. [18] In September 2021 it was reported that the facility is at the "brink of collapse". The module will be mounted on two wheeled platforms - one on each carriageway - and will look a bit like the bridge of a container ship gliding down the motorway. M53 closure to help construct hydrogen-powered refinery Further, the company has now returned to Ebitda positive [earnings before interest, taxes, depreciation, and amortisation] and is therefore in a much stronger position to weather the continued challenge presented by the pandemic, it said. 2) SUBSCRIBE to Global Energy Infrastructureand gain ACCESS to premium data for the energy industry.*. Monday 12 April 2021 18:47, UK Stanlow oil refinery is at Ellesmere Port Why you can trust Sky News The owner of Britain's second-biggest oil refinery has been hit by the resignation of two blue-chip City law firms amid a deepening financial and corporate governance crisis at the company. [3] Energy giant Essar said they have already made a series of changes at the Ellesmere Port site, Get our MyWirral newsletter, for the best news, pictures, opinions and video from across the peninsula. Signing up is free and it only takes a minute for you to get the biggest stories, sent straight to your inbox. Whether it's celebrating people, sharing issues or discussing latest news, our newsletter covers all things Wirral. To help with the delivery, we are closing the M53 for a night next week. Bloomberg Daybreak Asia. A source close to Essar Oil UK said the COVID-19 pandemic had depressed margins and impacted demand for its products, along with other refining businesses around the world. An insider said that a covenant waiver from Lloyds Banking Group, Essar Oil UK's main lender, had expired at the end of March, forcing the company to seek new sources of funding. [15] Following the bankruptcy of Petroplus which ran the Coryton Refinery in January 2012, Essar stated their belief that Stanlow, being a large refinery, would be able to compete with refineries in Asia and the Middle East. [4] Consequently, it is the second largest in the United Kingdom after Fawley Refinery,[5] and produces a sixth of the UK's petrol needs. All rights reserved. Essar said: "As we have previously stated, 2019 was a challenging year from an environmental perspective. In September, Total said it would convert the refinery into a biofuels and plastics recycling complex, ending crude refining at the site in early 2021. The positions at Stanlow in Ellesmere Port are in question following a blaze at the site in August, which damaged the units. Private equity firm Bartons Family Capital is weighing a takeover of the U.K. Stanlow oil refinery, The Times reported on Sunday. The pipeline had closed by 1990.[9][10]. But the Sunday Times reported that the government was on alert in case Stanlow collapsed, and that it could go into insolvency if it could not raise more funds. Cheshire West and Chester Council said it was "saddened and disappointed by the news" and would do everything it could to help anyone who may need to look for new employment. Since early August, the company has increased its daily vehicle shifts from 52 to more than 70, and is aiming to increase deliveries to more than 80 by the end of October, it said. A statement said Essar's "energy transition strategy" was based on the development of more environmentally friendly fuels. About 180 jobs are at risk after energy giant Shell announced the closure of two fire-damaged chemical units within an oil refinery in Cheshire. LNG Processing. Essar Oil UK said Stanlow was operating as normal during the current fuel crisis, and supplying fuel to north-west petrol stations as normal, as panic buying hits forecourts across the country. The MyWirral newsletter will bring you news from across the borough in a way youve never had before. A 45m furnace that runs completely on hydrogen - the first of its kind in the UK - will replace three existing furnaces at Stanlow. Essar Energy, which owns the Stanlow oil refinery in Ellesmere Port, Cheshire, is negotiating with HM Revenue and Customs (HMRC) over a 223m VAT payment, delayed because of the pandemic. Frustrations over the running of the company had led to the departures of two chief executives within a year. Stanlow oil refinery fire damage puts 180 jobs at risk - BBC News The BBC is not responsible for the content of external sites. The group reported progress in refinancing its debts, replacing a loan from Lloyds Bank with $325m of new lending. "The government continually monitors fuel supply across the country to ensure the public do not see any disruption. Stanlow oil refinery to build 360m carbon capture plant After arriving by ship from Thailand to the Port of Liverpool in June it was transferred to a barge for the short trip across the River Mersey, through the locks into the Manchester Ship Canal and onto a holding bay near National Waterways Museum at Ellesmere Port. This is what progress has been made since the plan was drawn up, Essar 'committed' to Stanlow Oil Refinery amid question mark over jobs' futures, The firm which runs the facility is looking at the outsourcing of some business functions, which could lead to redundancies, Swans potentially 'contaminated with oil' rescued near Stanlow Refinery in Ellesmere Port, The birds have been taken by the RSPCA to Stapeley Grange Wildlife Centre. Essar Oil . "In terms of governance, we always seek to adopt best practices and, working with our advisers, we made some changes to the board in recent weeks. Essar Oil UK insisted: "No [borrowing] facilities were withdrawn solely due to governance issues". The situation has alerted officials in Whitehall because of the implications of a collapse of a company responsible for supplying one-sixth of the UK's transport fuels - including through a pipeline from Stanlow to Manchester Airport. "We are in an advanced stage of discussions with a replacement lender, with both Stanlow operations and supply of products to our customers continuing as usual. We use your sign-up to provide content in the ways you've consented to and improve our understanding of you. @MarkKleinmanSky. For the best experience please use a JavaScript enabled browser. Auditors have warned about the financial health of the company behind the Stanlow oil refinery, despite its efforts to refinance loans and settle a debt . The BBC is not responsible for the content of external sites. And because of the poor performance, they will now have to pay 300% of the usual fee to the Environment Agency with environment policy magazine ENDS Report analysis estimating the company would have paid roughly 820,000 last spring. Here are Your Options. Member of the Brazilian Academy of Sciences and . The disclosure of the law firms' decision to step down comes just days after it emerged that the company was in urgent talks about its future. "We continue to regulate the site to make sure Essar have the right protection measures in place to minimise the risk of damage to the environment.". delivered c.US$225 million uplift to EBITDA. CheshireLive reported in March this year that Stanlow was given an environmental compliance score of 208.3 for 2019 far above the threshold for an F-rating, of 150. [2] Until 2011 it was owned by Shell UK. Stanlow Refinery owner faces new financial crunch as HMRC deadline By way of comparison, sales in February 2020 were 661kT. The BBC is not responsible for the content of external sites. 1) Go to our dedicated newsletter page at this link. Year end run rate (US$ million) 250. "This included the impacts caused by the sudden failure of power to Stanlow from the national grid, which in turn led to the complete loss of the internal electrical supply at Stanlow. Belo Horizonte, city, southern Minas Gerais estado (state), southeastern Brazil. VideoOn board the worlds last surviving turntable ferry, I didnt think make-up was made for black girls, Why there is serious money in kitchen fumes. In a statement issued to Sky News, Essar Oil UK said it did not comment on "the role of advisers that we work with from time to time". A new refinancing deal could buy time for the refinery to maintain operations until fuel demand rises. A good diversion using the A550 and A494 trunks will operate between between junction 5 and junction 11 at Stoak Interchange where the M53 meets the M56. However, this station is now only served by three trains daily towards each of Ellesmere Port (westbound) and Helsby (eastbound), with these services scheduled to depart at times which would be inconvenient for the workers. Markets never sleep, and neither does Bloomberg. Oil refinery woes raise concern in Westminster over financial backers As a result of that work over the past few months, EOUK has $1.1bn [800m] in liquidity secured. The refinery occupies nearly 1,900 acres (7.7km2) near the River Mersey and dates back to 1924, when a small bitumen plant was established. LNG Processing. [13] However, Shell said that a number of refineries in their portfolio offered over-capacity and consequently Stanlow, their last British refinery, was put up for sale. Stanlow refinery flare raised pollution levels in the area Auditors have warned about the financial health of the company behind the Stanlow oil refinery, despite its efforts to refinance loans and settle a debt to HM Revenue and Customs. Oilfield oil gas trasport pipeline refinery gifts awards. This means that we may include adverts from us and third parties based on our knowledge of you. Stanlow oil refinery to build 360m carbon capture plant Petroineos Grangemouth closure plans the latest round of refinery Output is delivered via various means, including by pipeline via the UK oil pipeline network, road and the Manchester Ship Canal. In 1980, electronic band Orchestral Manoeuvres in the Dark (OMD) from nearby Wirral featured a song about the refinery called "Stanlow" on their second album, Organisation. European e-scooter giant Tier Mobility maps route to merger, First Republic: JP Morgan to take over assets after lender becomes fourth to fail in two months, Vue screens former Rank chief Birch for boardroom post. Essar Energy, which owns the Stanlow. Whyare oil prices rising and what does it mean for inflation? Yes vote. The Mexico City Explosion of 1984 Missouri S amp T. ?Stanlow United. Essar Oil UK employs over 900 staff, and a further 500 contractors also operate at the refinery. At one stage in March 2021, Essar owed 771m to HMRC but it said this had since been reduced 109m and was due to be settled completely this month. Taxman throws 400m lifeline to troubled Stanlow refinery - The Telegraph Essar Oil UK Limited announced its plan to build a 360 MM major new carbon capture plant at its Stanlow refinery in line with its ambition to become a leading low carbon refinery by 2030. "We are currently investigating Essar for breaches of their environmental permit and as such are unable to comment further. Stanlow directly employs more than 900 people. On Saturday 13 August it will be moved away from the canal a few hundred yards onto the neighbouring M53 via the southbound entry slip road at junction 8. A multimillion-pound carbon capture plant is to be built at an oil refinery in Cheshire. Essar Oil said it wants to be at the forefront of the UK's shift to low carbon energy, Essar Oil said they would complete their "energy transition strategy" by 2030, On board the worlds last surviving turntable ferry. Friday 17 September 2021 15:37, UK. Stanlow later said it was seeking alternative supplies. Essar Oil UK said it had historically been "a very profitable business that has attracted over $1bn in investment since its acquisition in 2011". [19], Stanlow's position as one of the largest and well-known refineries in the country, has led to numerous protests over a number of decades. Crude oil is now received lower down river on the Mersey at the Tranmere Oil Terminal, operated by the Mersey Docks and Harbour Company from its Liverpool headquarters, and is transferred via a fifteen-mile (24km) pipeline to storage at Stanlow. Refinery Firefighting. * The plant was closed early in the second quarter 2011. . The two chemical plants at the site are owed by Shell but are run under a management agreement by Essar Oil UK. Closure of lubricants. [20][21] A large fuel price protest was staged in May 2011 with the objective of "shutting down" the refinery. The government has a net zero target by 2050. Live market coverage co-anchored from Hong Kong and New York. There is also a pipeline for jet fuel to Manchester Airport. * India's Essar Energy ESSR.L agreed to buy Royal Dutch Shell's RDSa.L Stanlow refinery in northwest England for $350 million. Thieves sniffed out by police dog after Cheshire oil refinery break-in, Two men from Liverpool fled the scene and hid in undergrowth but were eventually tracked down by police dog Toro, Dramatic video shows huge flames at Stanlow 'lighting up' night sky, People said they saw the sky turn orange as a result of the flaring from the refinery, New 360m plant will secure Ellesmere Port refinery's future and safeguard jobs, Essar says building the carbon capture plant is part of its plans to become a 'leading low carbon refinery' by 2030, Tranmere Rovers chairman takes up role at Ellesmere Port refinery, Mark Palios, former chief executive of the FA, has been appointed to the board of Essar Oil, How giant furnace crawled along M53 before arriving at Stanlow refinery, Essar release images of the overnight delivery of the first-ever hydrogen-powered furnace - the first of its kind in the UK, Waste firm staff at Cheshire's Stanlow Refinery could be set to strike, Unite is currently balloting members employed by Veolia and based at the refinery over possible industrial action, Just Stop Oil protesters could target Cheshire Stanlow refinery, M53 and M56, warns Essar, The company said they will be they will implementing 'additional checks', Strike action threat over as Essar's Stanlow refinery workers accept new pay deal, More than 400 employees had voted overwhelmingly in favour of industrial action back in September, Stanlow Refinery owner unveils plans for hydrogen plants that could attract 750m investment, Essar announced it has submitted plans for the two plants as part of the transition to 'low carbon operations', Essar Oil staff at Stanlow Refinery set for strike action, Further talks are scheduled in the industrial dispute with Essar over pay, pensions and unpaid bonuses, Stanlow Refinery owner Essar reaches agreement with HMRC to help 'stabilise finances', The deal comes after reports that the owner of the Ellesmere Port site was on the brink of collapse, Stanlow refinery firm Essar responds to speculation over collapse, The firm has now responded to 'press speculation' that claimed it's on the brink of collapse, Notorious Stanlow fuel blockade in pictures nearly 21 years after it took Britain to brink of chaos, More than 100 farmers and hauliers stopped nearly two million litres of Shell petrol from leaving the Stanlow Refinery, Stanlow Refinery owner responds to reports of financial struggle, Essar, which owns the site in Ellesmere Port, released a statement after reported fears about the company's future, Thick black smoke clouds billow from Stanlow oil refinery, People have reported seeing black smoke pouring from the area, Fascinating story of secret island near Ellesmere Port you may never have heard of, The island was inhabited by a small community up until the 1980s, Petrol station fuel disruption likely as Cheshire tanker drivers set to strike, Workers at Hoyer Petrolog voted in favour of action throughout November, Pictures show clouds of thick smoke following 'issue' at Stanlow Refinery, The thick clouds of smoke were seen as far as North Wales, Recap: Essar respond over 'issue' at Stanlow Refinery following huge clouds of smoke, Huge plumes of smoke can be seen across Cheshire, Stanlow near Ellesmere Port makes first step towards becoming carbon neutral site, Government funding helping companies like Essar move to a low carbon future, New Essar Oil UK CEO to be based at Stanlow in Ellesmere Port, Mark Wilson has been announced as the new chief executive officer.
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