Essar Oil
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| Public limited company | |
| Industry | Oil and gas |
| Headquarters | Mumbai, India |
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Key people
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Ravi Ruia, Chairman Lalit K Gupta, MD, CEO |
| Products | Petroleum, fuels, natural gas and other petrochemicals |
| Revenue | ₹983.53 billion (US$15 billion) (2014) |
| ₹21.55 billion (US$320 million) (2011) | |
| Total assets | ₹210.84 billion (US$3.1 billion) (2011) |
| Owner | Rosneft |
| Parent | Essar Energy plc |
| Website | www |
Essar Oil is an India-based company engaged in the exploration and production of oil and natural gas, refining of crude oil, and marketing of petroleum products. It is a part of the Essar Group based in Mumbai. It operates a major refinery in Vadinar, Gujarat, India, which made it the second largest non-state refiner in India in 2009.
In July 2009, Essar acquired a 50% stake in Kenya Petroleum Refineries Ltd. In July 2012, following Gujarat High Court's directions Gujarat Government seized three bank accounts of the company to recover its tax dues of Rs80 billion.
It was a publicly traded company (: ESSAROIL & : ),until it was taken private in a leveraged buyout which closed on December 30, 2015. It delisted the company valued at ₹380 billion (US$5.6 billion) by paying ₹37.45 billion (US$560 million).
In October 2016, Russia's state-owned oil company, Rosneft bought a 98% stake in Essar oil, along with Russian investment fund United Capital, in a deal worth $13 billion.
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