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Essar Oil says talks with Shell to continue till November 30

Reuters
Tuesday, November 3, 2009 18:15 IST
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New Delhi: Essar Oil said on Tuesday its exclusive talks with Royal Dutch Shell Plc to buy three of the global oil major''s European refineries will run until November 30.

The talks were announced on Friday. Essar Oil chief executive Naresh Nayyar told reporters that the deal was being pursued as part of plans to have a refining capacity of 1 million barrels a day. The firm currently runs a 280,000 barrel-per-day refinery in Vadinar in Gujarat, and owns 50 percent stake in a Kenyan refinery.

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