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Essar Oil UK has rebranded to EET Fuels, making its journey towards becoming the UK’s first low carbon refinery. The company declared an investment of US$1.2 billion to cut carbon emissions by 95% from its production processes by 2030, a step aimed at contributing significantly to the UK's decarbonisation plans.
The Stanlow refinery on the River Mersey, functional for a century, has been instrumental in providing fuel and chemicals. Under the new name, EETFuels, the company aims to continue meeting the country's energy needs while supporting the UK's energy transition goals. The company's decarbonisation strategy includes industrial carbon capture, set to be functional by 2028, aiming to decrease CO2 emissions by approximately 1 million tonnes annually. Another key component is hydrogen fuel switching, projected to cut a similar amount of emissions each year.
EET Fuels is part of Essar Energy Transition (EET), launched in 2023 to develop the UK’s leading energy transition hub in North West England. EET has planned a total investment of US$3.6 billion in low carbon energy transition projects over the next five years, with US$2.4 billion allocated to the Stanlow site.
Prashant Ruia, Chair of EET Fuels and CEO of Essar Energy Transition, said, “EET Fuels plays a crucial role in EET, aiming to build Europe’s integrated energy transition hub. Our efforts are aligned with facilitating industrial decarbonisation in the region, contributing to the UK’s climate goals.”
This initiative by EET is anticipated to significantly influence the UK’s transition to low carbon energy, aligning with government decarbonisation policies and fostering skilled employment opportunities in the Northern Powerhouse economy. The group also includes EET Hydrogen, working on blue hydrogen for the UK market, and Stanlow Terminals Ltd, focusing on developing storage and pipeline infrastructure, including the UK’s largest Biofuel Storage hub.
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