Essar Energy Transition FUELS and IRH Global Trading Forge USD 500 Million Crude Supply Partnership

Essar Group and International Resources Holding (IRH) have concluded an agreement establishing a USD 500 million crude sourcing and product supply facility between Essar Energy Transition Fuels and IRH Global Trading.

IRH, based in Abu Dhabi, operates as a global mine-to-market investment platform focused on minerals essential to energy transition and technological development. Its subsidiary, IRH Global Trading, functions as a significant player in global energy trading and liquidity provision.

Essar Group brings more than 50 years of experience as a multinational enterprise, having conceptualised, financed, constructed, and operated premier assets across energy, infrastructure, metals and mining, technology, and retail sectors. Through Essar Energy Transition Fuels, which owns and operates the Stanlow Refinery in the United Kingdom, the conglomerate is directing resources toward low-carbon energy initiatives and industrial decarbonisation.

The arrangement provides Essar Energy Transition Fuels with expanded possibilities for crude procurement and product commercialisation while enhancing working capital efficiency. The partnership also bolsters raw material availability amid heightened uncertainty in global energy markets, positioning the company to adapt swiftly to market shifts and maximise returns from refining and trading operations.

This collaboration reflects Essar Energy Transition Fuel's commitment to establishing robust partnerships with prominent industry participants, particularly IRH Global Trading. Simultaneously, the deal demonstrates IRH's contribution to ensuring dependable and efficient energy distribution across global markets while supporting performance improvements at downstream refining facilities.

Prashant Ruia, Chairman of Essar Energy Transition, remarked: "We are delighted to partner with IRH Global Trading on this strategically important transaction for our Stanlow refinery in the UK."

Ali Rashed Al Rashdi, Chief Executive Officer of IRH, stated: "We are pleased to partner with Essar Energy Transition Fuels to enhance supply security and operational resilience at a critical UK refining hub."