Essar Oil UK Ltd has appointed Stein Ivar Bye, as its new chief executive officer.
He 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 said: “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.”