Essar Energy Transition Fuels secures $500 million crude sourcing and product supply facility with IRH Global Trading

Essar Energy Transition Fuels, owner of the UK’s Stanlow refinery, has signed a $500 million crude sourcing and product supply facility with Abu Dhabi-based IRH Global Trading. The agreement is intended to strengthen feedstock security and improve working capital efficiency. The facility is designed to help the Stanlow refinery manage volatility in energy markets. The agreement does not involve equity changes in any publicly listed entity or direct financial disclosures, but it reinforces near- to mid-term physical demand for crude and provides marginal support for oil prices.