New Delhi: Essar Oil (UK) Ltd on Tuesday announced the induction of Tony Fountain, Managing Partner of Essar Energy Transitions, on its Board as a Non-Executive Director, effective April 17. The appointment comes as Essar aims to become one of the first low-carbon refineries globally by investing $3.6 billion in low-carbon energy transition projects over five years, with $2.4 billion earmarked for its Ellesmere Port site .
Fountain’s background includes board roles at Sellafield UK, Nayara Energy Limited and ATCO Group, as well as CEO positions in refining and marketing for Reliance Industries Limited and the UK Nuclear Decommissioning Authority. As part of Essar’s board, Fountain will chair the health, safety, security and environment committee and serve on the audit and risk, remuneration, diversity and nomination committees.
Prashant Ruia, non-executive chairman of Essar, welcomed Fountain’s 40 years of operational, regulatory and executive experience, while Fountain expressed his enthusiasm for the company’s commitment to low-carbon refining and decarbonizing the North West region.
“I am delighted to be invited to the Board of Essar. The company is committed to being one of the first low carbon refineries globally and playing a key role in the decarbonisation of the North West. This work is an important one to secure, so as to act as a catalyst to increase the level of investment in the sector and enable it to meet the commitments of Essar Energy Transition.”
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