EET Retail targets UK expansion in retail energy sector under new CEO
In a significant development for the UK’s retail energy sector, EET Retail, a of EET Fuels, has appointed Narayan Bhatra as its new chief executive officer (CEO). With an impressive track record spanning over 30 years in the energy sector, including a key role at Nayara Energy, India’s rapidly expanding fuel station network, Bhatra brings a wealth of experience and insight to his new role at the helm of EET Retail.
Under Bhatra’s leadership, EET Retail is setting its sights on a robust expansion strategy within the UK market. The company aims to establish a substantial portfolio of new retail outlets across the country within the next three years, striving to position itself as the “retailer of choice” for UK consumers. This ambitious plan includes both the development of new sites and the exploration of potential acquisitions to fast-track growth.
Bhatra, taking the reins during a pivotal time, expressed his enthusiasm about EET Retail’s visionary approach to growth and sustainability. He highlighted the company’s commitment to low-carbon, high-quality fuels, aligning with EET Fuels’ significant investments in decarbonisation and a pioneering hydrogen production facility at Stanlow.
EET Retail’s strategy also encompasses a customer-centric approach, aiming to offer a diverse range of products and services that cater to the evolving needs of drivers, particularly those shifting towards e-mobility. This initiative reflects a broader commitment to sustainability and innovation within the retail energy sector.
Deepak Maheshwari, CEO of EET Fuels, voiced confidence in Bhatra’s leadership, emphasising the company’s focus on delivering top-tier fuel outlets and building strong customer relationships based on the Essar brand’s foundational belief in putting customers first.
Tony Fountain, managing director of EET, reiterated the company’s dedication to reducing its environmental impact while ensuring the UK meets its climate change and energy security goals. He expressed eagerness to collaborate with Bhatra in sharing this commitment with retail customers, underlining EET Fuels’ role in the nation’s energy transition.
The appointment of Bhatra and the planned expansion are part of EET’s broader initiative to lead in the decarbonisation of the UK economy. EET aims to establish a low-carbon refinery and energy transition park in the North West, contributing to the UK’s Green Industrial Revolution and Energy Security Strategy.
Essar Oil UK rebranded to EET Fuels in January 2024. EET plans to invest a total of USD3.6 billion in developing a range of low carbon energy transition projects over the next five years, of which USD2.4 billion will be invested across its site at Stanlow. The Stanlow refinery, located in Ellesmere Port, Cheshire, England, was originally built by Royal Dutch Shell. Construction of the refinery began in 1924, and it started operations in 1928. Over the years, it has undergone several expansions and upgrades to become one of the largest refineries in the UK. In 2011, the refinery was acquired by Essar Energy, an Indian energy company, from Shell.
