Essar Oil UK plans to step up purchase of U.S. oil for its Stanlow refinery if the price spread between the Brent and WTI stays wider than $3 a barrel, its Chief Executive S. Thangapandian said on Wednesday.
Essar earlier this year bought a cargo of Eagle Ford shale oil from the United States, and placed an order to buy one cargo each in October and November.
Essar will shut its 68-million-barrel-a-year Stanlow refinery for at least a month in the first half of 2018, ahead of its expansion to 75 million barrels by July, he said.
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Updated: Wed, Sep 06, 2017
05:08 PM IST
05:08 PM IST
Reuters