Essar Energy plc
 |
|
| Subsidiary | |
| Industry | Oil and gas, Energy |
| Founded | 1998 |
| Headquarters | Port Louis, Mauritius |
|
Key people
|
Prashant Ruia (Chairman and Non- Executive Director), Naresh Nayyar (Chief Executive Officer), Simon Murray CBE (Vice Chairman) |
| Products | refined petroleum products, electricity |
| Revenue | US$27,257.7 million (2013) |
| US$790.8 million (2013) | |
| Profit | US$(175.0) million (2013) |
| Parent | Essar Group |
| Subsidiaries | Essar Oil |
| Website | www.essarenergy.com |
Essar Energy Plc is an Indian-focused energy company with assets in the existing power and oil and gas businesses. Headquartered in Port Louis, Mauritius and subsidiary of Essar Group, the firm has interests in both the power generation and petroleum industries. In May 2014 the company was acquired by its majority shareholder.
Established in 1998 as a wholly owned business unit of the Essar Group conglomerate, the firm was partly floated on the in April 2010, marking the exchange's largest initial public offering since December 2007. The company was added to the FTSE 100 Index at the subsequent quarterly review. Essar Group retains an approximate 76% stake in Essar Energy. The lead underwriters to the Initial Public Offering were JPMorgan Chase and Deutsche Bank. The primary offering raised £1.3bn. Ravi Ruia, the Chairman, and Sanjay Mehta, a senior board member of Essar Global Limited, were identified in an "Economic Times of India" article as instrumental in the listing.
Essar Energy announced in 2013 that it would sell its 50% stake in the Kenya Petroleum Refineries Limited to the Kenyan government.
In May 2014 the company was acquired by its majority shareholder.
Essar Oil is a fully integrated oil & gas company of international scale with strong presence across the hydrocarbon value chain from exploration & production to oil retail.
Exploration and production
Essar Energy has an installed power generation capacity of 3,910 MW across six plants.
The firm's oil and gas operations are carried out through its 86%-owned subsidiaryEssar Oil Limited, which is listed on the and the .
Essar Oil owns and operates Essar Refinery a petroleum refinery at Vadinar in Jamnagar district, Gujarat, It is India's second largest refinery, which has a capacity of 18 million metric tons per annum.
...
Wikipedia