Stanlow’s huge oil refinery on the banks of the River Mersey saw annual soar 10.2% to more than £4bn – despite a three-month shutdown for upgrade work.
Owner Essar Oil UK, a member of Mersey Maritime, said the facility, which supplies more than 16% of the UK’s road fuel and employs almost 1,000 people, also generated a profit after tax of £123m in the year to March31, slightly down from £128m in 2017.
The global Essar Group acquired the then loss-making Stanlow in 2011 from Shell and has since invested £650m turning it into a sustainable and profitable business.
It is a huge operation which every year produces 4.4bn litres of diesel, 3bn litres of petrol and 2bn litres of jet fuel. More than 9m tonnes of crude oil and feed-stock processed each year, making it one of the biggest refineries in the country.
For the first time, the company leased storage in Rotterdam, together with blending and jetty infrastructure, in order to cater to gasoline export markets directly.
A key priority is increasing share of the market for the direct supply of aviation fuel to leading airlines, with agreements now in place with airlines at a number of UK airports. Essar also remains a major player in the wholesale supply of Jet A-1 to UK airports.
The Essar petrol station network has grown to more than 50 locations since entering the UK retail market. The first company-owned flagship site will open opposite the Stanlow Refinery later this year.
Essar Oil UK chairman, Prashant Ruia, said: “Stanlow has emerged as a top tier refinery in Europe, with 16% market share in the UK and a growing presence in the retail and aviation sectors.
“We will continue to make proactive investments in technology to build a sustainable business that remains competitive in the rapidly changing global energy market.”