Refinery owner targets turnaround

The UK's second biggest oil refinery has reported a loss but its new owner insists an efficiency drive will help it make money even when oil prices fall.

India-focused Essar Energy bought the Stanlow refinery near Ellesmere Port, which accounts for 15% of production from UK refineries and produces around 1.5 billion litres of kerosene a year for aircraft fuel, from oil giant Shell in July.