Essar Oil UK - Stanlow Refinery reduced

Essar Oil (UK)’s Stanlow complex

Essar Oil (UK), has announced the formation and appointment of the company’s first Advisory Council.

EOUK owns and operates the Stanlow oil refinery which produces more than 16% of the UK’s road transport fuels.

The new four-person council comprises experienced leaders from across the legal, financial and diplomatic sectors.

The group will be responsible for advising the EOUK Board on strategic themes, with particular focus on commercial risk management and corporate finance matters.

The announcement represents another key milestone in the company’s ongoing programme of embedding a best-in-class corporate governance and strategic leadership framework, at a time when EOUK looks to accelerate its growth ambitions and continue its transformation into a “Low Carbon Energy Provider” of the future, working to build the UK’s green economy.

The four inaugural members of the EOUK Advisory Council are:

• Sue Prevezer QC, a dual-qualified barrister and solicitor with more than 30 years experience in commercial litigation, international arbitration and mediation who has also sat as a deputy high court judge;

• Sir John Grant, formerly president of BHP Billiton Europe and executive vice-president of policy and corporate affairs at BG Group;

• Richard Heald, an experienced corporate financier with more than 30 years experience in international financial markets and advisory, M&A, restructuring and capital raisings for governments and major corporations globally;

• Sanjay Mehta, who has significant experience in proprietary fund management, M&A, public boards and investment trusts. As an investor and is currently the chair of ONE Trust and managing partner of ReNew ONE (UK).

In addition to the creation of the Advisory Council, EOUK has also announced the appointment of Andrew Wright as non-executive director. Wright is qualified solicitor of England and Wales with over 20 years’ legal and commercial experience across the international oil, gas, renewables, and infrastructure industries.

Wright joined Essar Capital in 2011 and currently holds the position of senior risk officer for Essar Capital.

EOUK chairman Prashant Ruia commented: “EOUK made a clear commitment to building an industry-leading corporate governance and executive advisory regime. We continue to deliver on that promise. We are delighted to inaugurate the EOUK Advisory Council. The board looks forward to working with council members, as well as new non-executive director Andrew Wright, at such an exciting time for the company.”