UK: India’s Essar Oil to launch 400 gas stations in 3 years
Essar Oil is planning to expand its gas station network in the United Kingdom, reported India Infoline News Service.
The India-based oil and gas company, which currently owns seven gas stations and a refinery, aims to increase its number of petrol stations to 400 in the UK in three years.
Through this, Essar can take hold of 10% of UK’s retail fuel sector. UK has approximately 8,593 petrol stations, of which 5,613 are owned by dealers.
The Stanlow Refinery it acquired from Shell in 2011 currently produces more than 16% of the UK’s road transport fuel demand, including three billion liters of petrol, 4.4 billion liters of diesel, and two billion liters of jet fuel annually.
S.B. Prasad, Essar Oil UK’s chief commercial officer, is expecting 15 retail fuel sites to be opened in the coming months and 100 by the end of the year.
Furthermore, according to a livemint.com article, Essar’s fuel retail venture in the UK will be mainly a dealer-owned-dealer-operate model but will also look into a small number of company-owned-dealer-operated outlets.
