Owner of the giant Stanlow oil refinery on the Mersey Estuary, EET Fuels, reports an 18% rise in revenues to £9bn and a return to profit after processing 75.25m barrels of crude oil. Tony McDonough reports

Stanlow oil refinery owner EET Fuels reaps the rewards of a £100m investment programme as it pushes up revenues and returns to profit.

EET has posted its accounts for the 12 months to March 31, 2026, on Companies House. They reveal an 18% rise in revenues to £9bn and pre-tax profits of £17.3m, a big improvement on pre-tax losses of £241m reported in the previous year. The business reports in US dollars and LBN has converted to sterling.

Describing the 12-month period as a “defining year” EET chief executive Deepak Maheshwari said in the annual report that a £100m investment into its turnaround programme had been key to the improved results.

This investment helped raise the throughput of crude oil at the Ellesmere Port refinery close to the River Mersey by 27% to 75.25m barrels.

Stanlow, which employs more than 1,200 people, provides around 16% of all the UK’s road fuels and supplies jet fuel to multiple airports including Liverpool and Manchester. It also has joint ventures at other UK terminals and operates more than 235 retail petrol stations.

Crude oil refined at Stanlow is unloaded at the Tranmere Oil Terminal before being delivered to the refinery via an underground pipeline. Around 150 supertankers from all over the world call at Tranmere each year.

And around 500 smaller tankers make the journey up the Mersey to the Manchester Ship Canal to Stanlow where they collect the refined petroleum products.

“Against a backdrop of evolving energy markets, continued economic uncertainty and increasing pressure to decarbonise industry and embrace digital transformation, we delivered strong operational and commercial performance,” said Deepak.

He added the company had also made “significant progress towards our ambition of becoming Europe’s leading low carbon process refinery”.

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EET is investing heavily in hydrogen and carbon capture in a drive to decarbonise its operations at Stanlow. It is also a key partner in the wider HyNet hydrogen project which will provide ‘low carbon’ hydrogen to factories across the North West.

Deepak also said: “At the heart of our success is Stanlow. During the year we realised the benefits of more than $133m (£100m) investment made in our turnaround programme. The company benefited from improved reliability, delivering greater resilience and improved competitiveness of our refinery.”