EET RETAIL SETS OUT EXPANSION PLANS AND NEW LEADERSHIP

· Narayan Bhatra appointed Chief Executive Officer of EET Retail, the retail division of EET Fuels.

· Mr Bhatra has over three decades’ experience in the energy sector, previously Chief Retail Officer at Nayara Energy, India’s fastest growing private fuel station network.

· EET Retail has ambitious plans for growth in the UK, with aim of developing a significant portfolio of new retail outlets within three years.

Bengaluru, 4 April 2024: EET Retail, the retail division of EET Fuels, is pleased to announce the appointment of Narayan Bhatra as Chief Executive Officer.

Narayan was previously Chief Retail Officer at Nayara Energy, India’s second largest oil and gas company and that country’s fastest growing private fuel station network. He has over three decades of experience in the energy sector including management roles with Essar and Reliance Industries across India and Africa.

EET Retail has plans to develop a significant portfolio of Essar-branded fuel retail outlets within three years as part of its vision to become the UK’s “retailer of choice to consumers”. EET Retail will have a pan-UK presence and grow its network of outlets across all regions and markets, including identifying opportunities for potential acquisitions to accelerate its growth.

In the age of new mobility, EET Retail’s long-term strategy includes offering a range of low-carbon, high-quality fuels including serving the needs of drivers preferring e-mobility. These fuels will be offered in an environment that has a tailored selection of customer offerings, including non-fuel options.

Narayan Bhatra commented:

“I am excited to be joining EET Retail now. It has a clear and very ambitious vision for growth, as well as the potential to create a truly market leading proposition for low carbon high quality fuels, given EET Fuels’ huge investment in its decarbonisation plans at Stanlow, as well as building a world leading hydrogen production facility.”

Deepak Maheshwari, CEO of EET Fuels, said:

“We are embarking on this exciting journey of growth and innovation in the retail sector in the UK and are confident in Narayan’s leadership. EET Retail plans to deliver best in class fuel outlets, creating a network of partnerships that are focussed on Essar’s customer-first belief. Narayan’s appointment marks a significant milestone for EET, and we are excited about the opportunities ahead under his leadership.”

EET Fuels forms part of EET which is committed to playing a key role in the decarbonisation of the UK economy, and has ambitious plans to build an energy transition park at its site in the North West and to become the UK’s first low carbon process refinery. This aligns with the UK Government’s Ten Point Plan on the Green Industrial Revolution and with its British Energy Security Strategy.

Tony Fountain, Managing Director of EET, said:

“EET Fuels is a key part of Essar Energy Transition and we are committed to maintaining a strong, secure manufacturing base for fuels in the North West and across the UK. Our approach provides our customers with the assurance of working with a partner that is committed to decarbonising our production processes, playing our part to ensure that the UK delivers on its climate change goals and enhancing energy security. I look forward to working with Narayan to share this industry-leading commitment with our retail customers.”