Essar to cut Stanlow refinery costs
Essar Energy, the power firm fielding a takeover bid from its biggest shareholder, yesterday said it is looking for $100m in cost cuts at the Stanlow oil refinery in Cheshire to offset a slump in output. The refinery, which Essar bought from Shell in 2011, saw production slump 68 per cent in the last quarter as it shut down for maintenance and struggled to return to full speed.