Essar Oil : Vadinar refinery recognised as "Refinery of the Year" by PetroFed

• Refinery has received the award for the second time; the first was in 2011
• Mrs Hembala P Dixit, Joint GM, receives Woman Executive of the Year award

Mumbai, 9 August 2016: Essar Oil's 20 MTPA Vadinar refinery received the coveted 'Refinery of the Year'' award by Petroleum Federation of India (PetroFed).

Mrs Hembala P Dixit, Joint General Manager-Maintenance at Essar Oil, received PetroFed's Woman Executive of the Year award. The awards were given by the Secretary, Ministry of Petroleum and Natural Gas, Govt. of India, Mr. K.D. Tripathi.

Mr Lalit Kumar Gupta, Managing Director & Chief Executive Officer, and Mr C Manoharan, Director-Refinery, accepted the award at a glittering ceremony in New Delhi on 8 August 2016. This is the second instance that the refinery has received the award, after having won it for the first time in 2011.

Essar Oil's Vadinar refinery was conferred with the award based on its performance measured in terms of production and operating efficiency, safety initiatives, improvement in energy consumption, environment protection, environment and occupational safety and health, information technology and initiatives in using advanced technology during the year.

Essar Oil's Vadinar refinery is a world-class complex that produces about 9% of India's refining output. It is also among the world's most complex refineries that has processed 91 types of crudes, including the dirtiest crudes available. In less than four years since its commissioning in 2008, the refinery capacity was increased from 10.5 MTPA to 20 MTPA, while the complexity was enhanced from 6.1 to 11.8. The refinery is capable of producing high quality Euro IV and V grade products. Its safety record is equally impressive-as on 4th August 2016, the refinery has recorded 3,046 (8.2 years) Lost Time Injury (LTI) free days and 2,631 (7 years) fire free days.

Mr Manoharan said, 'We are delighted to receive this prestigious award for the second time. We have vastly improved our crude blend and product slate at the refinery, and this is reflected in our financial performance. Our margins, too, have remained consistently above the industry benchmarks. I would also like to take the opportunity to congratulate Mrs Dixit for being honoured with the Woman Executive of the Year award.'

According to Mr Gupta: 'The Vadinar refinery is a world-class asset and we will continually invest in upgrading it so that we can better our efficiencies further.'

Essar Oil recently announced that it will invest an additional Rs 1,200 crore on refinery upgrades over the next 2-3 years, after having spent Rs 400 crore during a planned 28-day shutdown in September-October last year. These upgrades are expected to give a boost of $1.50 (per barrel of crude) on Essar Oil's Gross Refinery Margin (GRM)-a measure of a refinery's operational efficiency.

Dr RK Malhotra, Director General, Petroleum Federation of India, said on the occasion, 'The PetroFed Awards Committee and the Jury comprising of eminent people recommended the Vadinar Refinery of Essar Oil for the Refinery of the year award based on the evaluation parameters. We congratulate Essar Oil's team on this commendable achievement and wish them more success in future.''

Mrs Hembala P Dixit, winner of PetroFed's Woman Executive of the Year award, said, 'I thank PetroFed for recognising my efforts. I am also grateful to Essar Oil that has helped me realise my potential through its focus on equal opportunity and gender equality.'

Retail Operations
Essar Oil also operates a network of 2,470 operating retail outlets, while 2,850 additional outlets are in various stages of implementation. Essar Oil has a target of reaching 4,300 operational outlets by the end of FY 2016-17. The total capital investment in these outlets would be about Rs 2,100 crore, which will be mostly infused by franchisees. Once completed, the retail operations will generate employment for about 20,000 people.

About Essar Oil Limited
Essar Oil is a fully integrated oil and gas company of international scale with strong presence across the hydrocarbon value chain-from exploration and production to refining and oil retail. Essar Oil has a portfolio of onshore and offshore oil & gas blocks with about 1.7 billion barrels of oil equivalent in reserves & resources.

Media contact:
Sumi Gupta, Head - (North) Corporate Affairs, Communications and CSR, Essar
Phone: +91 93216 56048 / 85888 66260, Email: Sumi.Gupta@essar.com

Anoop Agrawal, Joint General Manager - Corporate Communications, Essar Oil,
Phone: +91 98203 15684, Email: anoop.agrawal@essar.com