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• Essar Oil MD and CEO LK Gupta said on Saturday that the company was planning to build a 5-7.5 million tonne-a-year oil refinery in Uganda.“There is a big oil find in Uganda and we believe that there is a possibility of building a refinery there,” Gupta said on the sidelines of the third India-Africa hydrocarbons conference here. He added Essar Oil was already in talks with the Ugandan government in this regard.Gupta also said that Essar Oil had decided to step up its retail petrol sales in India by increasing its network of filling stations by about 25%. “We are opening 300 more filling stations across the country in addition to our existing network of 1,300 outlets,” said Gupta.
• Essar is expanding its retail petrol sales to take advantage of the market-linked pricing for the fuel, which was introduced last June. However, further expansion in retail operations would depend on the government’s plan to leave diesel prices to market forces, he said, adding the filling stations worked on a unique model, where franchisees funded the infrastructure cost.Gupta also said the company's Vadinar refinery was processing West African and Iranian oil and that the company was exploring the possibility of shipping oil from Latin America.The proposed refinery in Uganda would be the company's second one in Africa. The company has a 50% stake in Kenya Petroleum Refinery. The company acquired UK’s Stanlow refinery recently.

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