London, October 19, 2020: The Board of Essar Oil UK Ltd is pleased to announce the appointment of Stein Ivar Bye, as Chief Executive Officer.
Stein Ivar Bye will be based at the company’s Stanlow Manufacturing Complex in Ellesmere Port, Cheshire. He brings with him over 28 years’ experience in the Oil and Energy sector, working internationally across Europe, Africa, the Middle East and Asia.
Stein, who graduated from the Norwegian University of Science and Technology (NTNU) and has an MBA in Business Strategy and Management from BI Norwegian Business School, previously spent 25 years with ExxonMobil and was latterly Chief Operating Officer at Sweden’s largest fuel company, Preem.
Stein is an experienced executive leader in multicultural and international environments and has an impressive track record in refinery operations, coupled with broad experience in supply and trading, strategy and planning and business development.
Prashant Ruia, Non-Executive Chairman, Essar Oil UK said: “As an organisation, our sights are firmly set on transforming our UK business, ensuring its growth and long term sustainability as we transition towards a low carbon energy economy and deliver the energy solutions of the future for Britain. Stein will be pivotal in meeting this challenge and fulfilling this ambition.”
Stein Ivar Bye added: “I am honoured to be selected as CEO for Essar Oil UK and excited to be part of Essar’s transformational journey. Society’s demand for efficient and sustainable energy solutions is an inspiring challenge and will require creativity and perseverance. With the collective competency and commitment of the Essar organisation, and strong stakeholder engagement, I am confident Essar Oil UK will be a part of the solution for the future.”
About Essar Oil UK Essar Oil (UK) Limited is a leading UK-focused downstream energy company that owns and operates the Stanlow Refinery located on the south side of the Mersey Estuary near Liverpool. Stanlow produces 16% of UK road transport fuels and the refinery processes 10 million tonnes of crude and feedstocks annually.
Since acquiring Stanlow in 2011, Essar has invested $1 billion in the Essar Oil UK business. The site’s largest ever Turnaround in 2018 saw the successful delivery of a project that increased annual throughput capacity from 68 million to 75 million barrels, as well as improving yields and driving revenues.
Essar is a major supplier in the North West and beyond with customers including most of the major retail brands operated by international oil companies and supermarkets, Manchester Airport, leading commercial airlines and the region’s trains and buses. It is the lowest cost supplier into the North West and is highly competitive in supplying adjacent markets. Last year, the company acquired BP assets in the Midlands to further strengthen its logistics infrastructure network.
Essar has broadened its downstream integration, with an award winning entry into the UK fuel retail market. With 71 sites operational across England and Wales, the company has confirmed ambitious plans to grow its retail network nationally to 400 sites.
The company is also a major player in the wholesale supply of Jet A-1 to a number of major UK airports. Essar has also successfully entered the market for the direct supply of aviation fuel, signing agreements with some of the leading international airlines.
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