Libya, Essar bid for UK's oil refinery: Report

Posted By: Staff
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London, Aug 10: Essar group and Libya's National Oil Corp are among the applicants to buy UK's second largest oil refinery Shell Stanlow complex, a media report said.

Sunday Times reports said that Shell hopes to make 1.5 billion pounds ($2.51 billion) from the sales. A Shell Stanlow complex, near Ellesmere Port, Cheshire, is the oil giant's only refinery in Britain which is being sold along with two German refineries at Heide and Harburg.

"Among the bidders are Libya's National Oil Corporation and Essar, the mobile phone to shipping conglomerate owned by the billionaire Ruia brothers, Ravi and Shashi," the Sunday Times said.

It also said, "American refining giant Valero and an investment vehicle controlled by the Saudi royal family are also expected to make offers." The auction is being run by Lazard and final bids are due on Aug 17, the newspaper added.

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