Essar Oil

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Essar Oil
Type Public company
Traded as BSE500134
NSEESSAROIL
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 INR481.65 billion (US$8.0 billion) (2011)[1]
Net income INR21.55 billion (US$360 million) (2011)
Total assets INR210.84 billion (US$3.5 billion) (2011)
Owner(s) Essar Group
Parent Essar Energy plc[2]
Website www.essar.com

Essar Oil (BSE500134, NSEESSAROIL) 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.[3]

In July 2009, Essar acquired a 50% stake in Kenya Petroleum Refineries Ltd.[4] 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.[5]


References[edit]

  1. ^ "The 20 largest companies in India – Rediff.com Business". bseindia.com. Retrieved 2011-07-20. 
  2. ^ Essar Oil Ltd subsidiary of Essar Energy plc [LSE: ESSR, the India-focused integrated energy]
  3. ^ "Essar May Rise After Report That Shell May Acquire 10% Stake". Bloomberg. 23 November 2009. 
  4. ^ Sharma, Rakesh (3 November 2009). "Essar Oil CEO: Exclusive Talks With Shell to End Nov. 30". The Wall Street Journal. 
  5. ^ "Gujarat govt attaches Essar Oil's bank accounts to recover tax dues". The Times Of India. 9 July 2012.