London: Ruias-owned Essar Energy Plc has appointed Volker Schultz as the Chief Executive Officer of its UK subsidiary, Essar Oil (UK) Ltd, including the Stanlow Refinery.
Schultz will join Essar Energy from BP, where he has worked for 23 years and currently holds the position of Head of Refining & Marketing Strategy and Portfolio. He will report to Essar Energy Chief Executive Officer Naresh Nayyar.
Essar Energy acquired Stanlow, the UK's second-largest refinery, from Shell at the end of July through Essar Oil UK. A 100-day exercise is currently underway at Stanlow to identify and prioritise key operational investments and improvements required at the refinery over the short to medium-term to enhance throughput and improve the company's crude and products slate, Essar Energy said in a statement.
Nayyar said: "We look forward to Schultz's arrival at Essar Energy. He has a wealth of experience across the oil industry, which will be very valuable as he takes over responsibility for developing our UK business."
Schultz said: "I am very much looking forward to joining Essar Energy and taking on a new challenge. There are many changes currently taking place in the global refining industry, which are opening up exciting new opportunities." Schultz is expected to join Essar toward the end of October.
During his career with BP, Schultz has held a series of senior commercial, strategy and manufacturing positions.
In his current role, he has been instrumental in the development and execution of the portfolio strategy for BP's refining and marketing division.
First Published: Thursday, September 29, 2011, 10:12