Essar Oil (BSE: 500134, NSE: ESSAROIL) is an India-based company engaged in the exploration and production of oil and natural gas, refining of crude oil, and marketing of petroleum products. It is a part of the Essar Group based in Mumbai. It operates a major refinery in Vadinar, Gujarat, India, which made it the second largest non-state refiner in India in 2009.
In July 2009, Essar acquired a 50% stake in Kenya Petroleum Refineries Ltd. In July 2012, following Gujarat High Court's directions Gujarat Government seized three bank accounts of the company to recover its tax dues of Rs80 billion.
Famous quotes containing the word oil:
“Opinions are to the vast apparatus of social existence what oil is to machines: one does not go up to a turbine and pour machine oil over it; one applies a little to hidden spindles and joints that one has to know.”
—Walter Benjamin (1892–1940)