Essar Energy has completed its $350m acquisition of the Stanlow oil refinery and other associated assets in the north west of England from Shell UK.

Located near Ellesmere Port, the Stanlow refinery has a nameplate capacity of 296,000 barrels of oil a day.

This acquisition, which gives Essar Energy direct access to the UK market, is aligned with the company’s strategy to provide options for the export of high value fuel products from its Vadinar refinery in the Indian state of Gujarat.

Essar Energy chief executive Naresh Nayyar said the acquisition of the Stanlow refinery takes the company substantially closer to its objective of a global refining capacity of one million barrels daily.

Essar Energy will make some operational improvements that will optimise production at the Stanlow refinery.