The company also said that they had succeeded in changing any shortcomings from not importing Russia by maximizing the production of native diesel and non-Russian diesel sources.According to Essar Oil (UK), during the current fiscal first quarter, the sales volume increased by 10 percent to 1.72 million tons compared to 1.57 million tons of the previous year.The company’s consolidation revenue during the reviewed quarter (based on IFRS) was $ 3.72 billion compared to $ 2.03 billion during the previous year.
Deepak Maheshwari, Chief Executive Officer, Essar Oil (UK) Ltd., said that the current volume of sales is at the pre-covid level, adding that the company has strengthened the balance sheet and operation.”We accelerate our support for British transitions from relying on Russian products and have stopped all Russian imports, while increasing the production of British -made diesel,” Maheshwari said.
Britain historically depends on Russia to meet its diesel needs, and the main challenge of the industry is the source of this barrel from alternative domestic or non-Russian sources.To support the British government ban that was announced on the Russian imports to be implemented at the end of this calendar year, Essar Oil (UK) stopped importing all Russian products (including diesel) from mid -April, the company said.All crude oil processed in stanlow comes from US sources, West Africa and North Sea, the company’s statement added.When switching to the future low -carbon, the company said it had formed a hydrogen vertex to build the largest hydrogen hub in the UK in stanlow.
“Vertex Hydrogen is an important investment for Essar in helping us achieve our vision to become the first low -carbon refinery in the UK while supplying the British market with sustainable fuel in the future,” the statement said.Investment of 1 billion pounds, which will be in the heart of a low carbon hynet cluster, will produce a total of 1GW per year hydrogen from 2026, equivalent to the domestic heating energy used by the British main city region.In February, Essar had announced plans to install a hydrogen -powered furnace of the first 45 million pounds in the UK to become the first low -carbon refinery in the country.
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