Essar Oil UK has been rebranded as EET Fuels, as it delivers on its plan to become the United Kingdom’s first low carbon refinery, EET Fuels said in a statement.
EET Fuels is investing $1.2 billion to support industrial decarbonisation, with a target to deliver a 95% cut in carbon emissions associated with its production processes by 2030, it said.
Deepak Maheshwari, CEO, EET Fuels in a statement said, “This is an exciting time for our business. We are delivering on our plan to be the world’s first low carbon process refinery and world’s first low carbon process fuel producer. It is world leading and we’re pleased that it is happening now, in the North West.”
EET Fuels is part of Essar Energy Transition (EET), which was started in 2023 to drive the creation of the UK’s leading energy transition hub in North West England.
EET plans to invest a total of $3.6 billion in developing a range of low carbon energy transition projects over the next five years, of which $2.4 billion will be invested across its site at Stanlow, between Liverpool and Manchester
Prashant Ruia, Chair, EET Fuels and CEO, Essar Energy Transition, said, “EET Fuels is key part of EET, which is building Europe’s foremost integrated energy transition hub. We are playing our part to ensure that the UK delivers on its climate change goals, enhances energy security, and maintains a strong, secure manufacturing base for fuels.”
EET’s investment programme will play a major role in accelerating the UK’s low carbon transformation, supporting the government’s decarbonisation policy and creating highly skilled employment opportunities at the heart of the Northern Powerhouse economy, it added.
