Essar Energy Transition secures $500 million crude sourcing facility from Abu Dhabi’s IRH

Essar Group and Abu Dhabi-based International Resources Holding (IRH) have signed a $500 million crude sourcing and product supply facility agreement aimed at strengthening feedstock security and enhancing operational flexibility at Essar’s Stanlow refinery in the UK.

Announced on Monday, the agreement is between Essar Energy Transition Fuels, which owns and operates the Stanlow refinery, and IRH Global Trading, a wholly owned subsidiary of IRH and a global energy trading and liquidity provider.

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The companies said the facility would enable Essar Energy Transition Fuels to diversify crude sourcing and product marketing options while optimising its working capital arrangements.

The agreement is also expected to strengthen feedstock security at a time of heightened volatility in global energy markets, improving the refinery’s ability to respond to changing market conditions and capture value across its refining and trading operations.

The transaction marks another step in Essar Energy Transition Fuels’ strategy of building relationships with major industry players while supporting the company’s broader energy transition plans.

“We are delighted to partner with IRH Global Trading on this strategically important transaction for our Stanlow refinery in the UK,” said Prashant Ruia, Chairman of Essar Energy Transition.

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For IRH, the deal expands its role in global energy trading and supply chains.

“We are pleased to partner with Essar Energy Transition Fuels to enhance supply security and operational resilience at a critical UK refining hub,” said Ali Rashed Al Rashdi, Chief Executive Officer of IRH.

IRH, headquartered in Abu Dhabi, operates a mine-to-market platform focused on minerals critical to the global energy transition and technological advancement. Through its trading arm, the company provides energy trading and liquidity services across international markets.

Essar Group, which has interests spanning energy, infrastructure, metals and mining, technology and retail, has been investing in low-carbon energy solutions and the decarbonisation of its industrial assets through Essar Energy Transition Fuels.

The companies said the agreement would support secure and efficient energy flows while improving operational optimisation at downstream refining assets.