Essar Oil to shut Vadinar refinery for maintenance

Essar Oil will this week shut its 4,05,000 barrel-per-day Vadinar refinery in Gujarat for about four weeks to carry out maintenance work.

The refinery, the nation's second biggest, will be shut for the maintenance job around Friday, a company official said.

The company will upgrade some units during the planned maintenance shutdown, which was earlier planned for middle of 2015, but was pushed to September. 

Also read: Is Russia shifting focus from China to India for its oil barrels?

Russia's Rosneft signed a deal to buy nearly 50% stake of Essar Oil, which included a hold on India's second biggest oil refinery, as well as 1,600 petrol pumps that are likely to more than triple in two years.

According to the deal, the Russian firm will also supply 10 million tonnes a year of crude to Essar Oil's 20 million tonnes per annum Vadinar refinery in Gujarat for 10 years.

At 1342 hours, Essar Oil's stock was up Rs 1.80 or 0.97% at Rs 188.10 from previous day's close.