In June 2026, India's Essar Group and Abu Dhabi-based International Resources Holding (IRH) announced a USD 500 million structured sourcing facility agreement between Essar Energy Transition Fuels and IRH Global Trading. The agreement covers crude oil and petroleum products to support procurement, supply chain optimisation, and energy trading. IRH is a mine-to-market investment platform focused on minerals and resources critical for the energy transition, headquartered in Abu Dhabi.
Economy
Essar Group and Abu Dhabi's IRH Sign USD 500 Million Crude Oil and Product Sourcing Facility Agreement
Key Points
- In June 2026, India's Essar Group and Abu Dhabi-based International Resources Holding (IRH) announced a USD 500 million structured sourcing facility agreement between Essar Energy Transition Fuels and IRH Global Trading
- The agreement covers crude oil and petroleum products to support procurement, supply chain optimisation, and energy trading
- IRH is a mine-to-market investment platform focused on minerals and resources critical for the energy transition, headquartered in Abu Dhabi
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• Essar Group + IRH (Abu Dhabi): USD 500 million crude oil sourcing facility (June 2026) • Entities: Essar Energy Transition Fuels + IRH Global Trading • IRH: mine-to-market investment platform; energy transition minerals focus; HQ Abu Dhabi • Objectives: diversify crude sourcing, improve working capital, enhance feedstock security
