Essar Oil UK, one of the leading downstream energy companies in the UK, which owns and operates Stanlow Manufacturing Complex refineries, has said it is planning to increase its jet fuel production as the country is moving towards having a large share of electric vehicles by 2040.
“Our share in the jet fuel business is going to increase. We are not looking at product diversification but plan to make higher value products,” said S Thangapandian, chief executive officer, Essar Oil UK. He indicated that even if the demand for diesel and petrol might get affected, aviation fuel demand would grow. Last year, the UK government had come out with a plan to ban new diesel and petrol cars and vans.