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Essar Oil acquires UK pipeline and oil storage terminals from BP
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Report summary
Essar Oil (UK) has a strong refining position in the UK and has been actively increasing its retail service portfolio since 2016. With this latest infrastructure deal, Essar Oil acquires BP's stake in the UK Oil Pipeline and interest in two inland oil storage terminals. The investment compliments Essar's strategy to expand its retail fuels marketing presence, supporting its strong supply position within the UK market. The deal follows similar recent investments made by oil majors Total, BP and Phillips 66 to invest in the UK downstream oil market.
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