Abu Dhabi, June 16 -- Essar Group and International Resources Holding (IRH) have announced the successful execution of a USD 500 million crude sourcing facility and product supply facility between Essar Energy Transition Fuels and IRH Global Trading.

The facility enables Essar Energy Transition Fuels to diversify the crude sourcing and marketing options for its products while optimising its working capital arrangement, a release said, adding that it also strengthens feedstock security in an increasingly volatile global energy market, enhancing Essar Energy Transition Fuel's ability to respond to changing market conditions and capture value across its refining and trading activities.

IRH, headquartered in Abu Dhabi, UAE, is a global mine...