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UKPIA welcomes two new members

PRESS RELEASE      

5 August 2011

FOR IMMEDIATE PUBLICATION     

UKPIA welcomes two new members- Essar Oil (UK) and Valero Energy

UKPIA, the trade association representing the main oil refining and marketing companies in the UK, welcomes two new members, Essar Oil (UK), the subsidiary of Essar Energy of India and Valero Energy of the USA.

In recently completed transactions, Essar has purchased Shell’s Stanlow refinery and Valero has acquired Chevron Limited that owns Pembroke refinery and extensive marketing and logistics assets in the UK and Ireland.

Shell UK will continue as a member of UKPIA.

Chris Hunt, Director General of UKPIA, commented: “We very much welcome Essar and Valero as members of UKPIA. The UK refining sector faces a number of challenges at the moment but the oil sector as a whole will continue to play an important role in meeting the UK’s future energy needs. UKPIA and its members will continue their work with government and other stakeholders to try and ensure we have a policy framework that does not place UK refineries at a competitive disadvantage either inside or outside the EU.”
Ends

Enquiries to: Nick Vandervell, UKPIA Tel. 020 7269 7604
  
Notes to editors:
 
1. UKPIA represents ten oil refining and marketing companies that operate the 8 major oil refineries in the UK; the refineries processed 73 million tonnes of crude oil and produced 75.4 million tonnes of refined products in 2010 (Source: DECC- DUKES data). UKPIA members also own around 2,200 of the 8,787 filling stations in the UK, as well as extensive storage and distribution infrastructure.

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