|Public limited company|
|Industry||Oil and gas|
|Ravi Ruia, Chairman
Lalit K Gupta, MD, CEO
|Products||Petroleum, fuels, natural gas and other petrochemicals|
|Revenue||₹983.53 billion (US$15 billion) (2014)|
|₹21.55 billion (US$320 million) (2011)|
|Total assets||₹210.84 billion (US$3.1 billion) (2011)|
|Parent||Essar Energy plc|
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.
In July 2009, Essar acquired a 50% stake in Kenya Petroleum Refineries Ltd. 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.
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. It delisted the company valued at ₹380 billion (US$5.6 billion) by paying ₹37.45 billion (US$560 million).
- "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.