Essar Energy considering options for Stanlow refinery.

Essar Energy is considering a number of options regarding the British refinery it acquired two-and-a-half years ago, in the face of persistently tough conditions in Europe.

Essar Energy is in 'all kinds of discussions' regarding Stanlow in the face of tough competition from the US refiners, putting further pressure on the already-beleaguered European refining industry, a person familiar with the matters told Business Line, requesting anonymity.

Asked if one of the options will be exiting the refinery, the source said: 'As we talk now, there is nothing about exit.'

In the UK, speculation has been building about the fate of Stanlow, a 260,000-barrel-a-day refinery in north-west England, which Essar Energy acquired from Royal Dutch Shell in a $350-million deal. An announcement was expected to follow Essar Energy's delisting from the London Stock Exchange earlier this month.

HBL