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Essar Oil UK appoints Deepak Maheshwari as its new CEO

August 03/2021

MOSCOW (MRC) -- Essar Oil UK Limited, operator of Britain's Stanlow oil refinery, appointed Deepak Maheshwari as its chief executive officer (CEO), reported Reuters.

Maheshwari succeeds Stein Ivar Bye who left the company in April this year due to personal reasons, shortly after joining in October 2020, a spokesperson for the company said.

Prior to joining Essar Oil UK, Maheshwari was CFO and head of strategy at Adani Ports and Special Economic Zone Limited (APSE.NS), India's largest commercial multi-port operator, according to the statement. He was previously CFO of Essar Energy Limited.

As MRC informed earlier, in late September 2019, Essar resumed operations at its cracker in Stanlow, UK with the capacity of 45,000 mt/year of ethylene and 165,000 mt/year of propylene. It was shut on 11 September, 2019, due to the power outage at the site.

Ethylene and propylene are the main feedstocks for the production of polyethylene (PE) and polypropylene (PP), respectively.

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 953,400 tonnes in the first five months of 2021, which virtually corresponded to the same figure a year earlier. High denisty polyethylene (HDPE) shipments decreased. At the same time, PP shipments to the Russian market were 607,8900 tonnes in January-May 2021, up by 33% year on year. Shipments of homopolymer PP and PP block copolymers increased, whereas deliveries of PP random copolymers decreased.
Author:Margaret Volkova
Tags:PP, PE, crude and gaz condensate, propylene, ethylene, petrochemistry, Essar Oil UK Limited, UK.
Category:General News
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