India-focused Essar Energy bought the Stanlow refinery near Ellesmere Port from oil giant Shell last July.
The operation made an underlying loss of £19.4 million in the first eight months under new ownership.
The UK's second-biggest oil refinery has reported a loss but its new owner said an efficiency drive will help it make money even when oil prices fall.
India-focused Essar Energy bought the Stanlow refinery near Ellesmere Port from oil giant Shell last July.
The operation made an underlying loss of £19.4 million in the first eight months under new ownership.
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