Essar Group's EET Fuels Signs $500 Million Crude Supply Deal With IRH Global Trading

Essar Group-backed Essar Energy Transition Fuels (EET Fuels), which owns the Stanlow refinery in the UK, has secured a $500 million facility from IRH Global Trading, a trading firm based in Abu Dhabi. The agreement covers crude oil sourcing and the supply of refined products.

The company said the arrangement will help secure a steady supply of crude oil while improving working capital management.

The agreement was announced on 16 June 2026. IRH Global Trading is a wholly owned subsidiary of International Resources Holding, the Abu Dhabi-based mine-to-market platform focused on minerals and resources tied to the global energy transition.

What It Does For Each Party

For Essar Energy Transition Fuels, the facility opens up additional crude sourcing channels and product marketing routes that were not previously available. Running a major refinery on a single or narrow set of supply relationships creates vulnerability when trade flows shift or geopolitical events disrupt established routes.

The deal reduces that exposure and gives the Stanlow operation more room to manoeuvre when market conditions change quickly.

For IRH Global Trading, the transaction extends its footprint as an energy trading and liquidity provider into downstream refining, adding a commercially significant UK refining asset to its network of supply relationships.

The Stanlow Context

Stanlow is one of the United Kingdom's largest refining complexes and the operational core of Essar Energy Transition's broader plans for low-carbon fuel production in north-west England.

The company has outlined major investment in energy transition projects at the site and needs the refining business to remain competitive and cash-generative while those longer-term projects are developed. Stronger feedstock security and a more efficient working capital structure directly support that objective.

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Prashant Ruia, Chairman of Essar Energy Transition, described the partnership as strategically important for Stanlow and said it strengthens the refinery's crude sourcing and product marketing capabilities.

Ali Rashed Al Rashdi, Chief Executive of International Resources Holding, said the deal improves supply security and operational resilience at a critical United Kingdom refining hub.

Sources:

Essar

Moneycontrol