Essar Oil Files Review Petition in Supreme Court
OREANDA-NEWS. February 16, 2012. Essar Oil Limited today announced that it has filed a petition in the Supreme Court seeking a review of the apex court’s decision relating to repayment of deferred sales tax. On January 17, 2012, the Supreme Court had set aside a Gujarat High Court judgment permitting Essar Oil to avail of a sales tax deferral benefit from the Gujarat Government.
The Gujarat High Court in an earlier order had extended time to Essar Oil for commencing commercial production at the Vadinar Refinery, thus making the Company eligible to avail of
Essar Oil is a fully integrated oil & gas company of international scale with strong presence across the hydrocarbon value chain from exploration & production to refining and oil retail. It has a global portfolio of onshore and offshore oil & gas blocks, with about 2.1 billion barrels of oil equivalent in reserves & resources. Essar Oil has over 300,000 bpsd (barrels per stream-day) of crude refining capacity that is being expanded to 405,000 bpsd. There are more than 1,600 Essar-branded oil retail outlets in various parts of