Commodity buying and selling big Trafigura has accomplished the acquisition of fifty % of fairness in Meroil Tank S.L. from Spanish oil operator Meroil S.A. for an undisclosed sum.
Meroil Tank will now function as a 50:50 three way partnership firm with property that embody 356,000 cubic meters of refined oil merchandise storage infrastructure throughout the port of Barcelona. The corporate will proceed to serve its present in addition to future clients to retailer refined oil merchandise, together with gasoil, gasoline and jet gas, in addition to biofuels, Trafigura mentioned in a information launch.
The three way partnership goals to offer logistics and distribution of oil merchandise and biofuels on each the nationwide and worldwide markets.
- Advertisement -
“We’re delighted to hitch forces with Meroil, a outstanding logistics supplier and wholesale gas operator in Barcelona,” Jamie Torrance, Trafigura International Head of Distillates, mentioned. “The asset is integral for the import of refined merchandise and biofuels within the area; providing superior logistics and adaptability to our present and future buyer base. We sit up for working with the Meroil crew on the additional growth of the terminal’s logistics, whereas staying attentive to the market’s evolution in direction of low-carbon fuels”.
“We admire the chance to work with a world-leading firm within the oil buying and selling sector; this collaboration will considerably improve the event of our enterprise in Spain,” Meroil President José Luís Porté mentioned.
Meroil has a community of service stations with a presence all through the territory, offering merchandise for fleets of ships, business airways, and business. Meroil has the most important coastal terminal in Spain for the storage of oil merchandise and biofuels, linked to the nationwide pipeline system, in keeping with the discharge.
Based in 1993, Meroil was the primary impartial operator of Spain’s oil sector. Its founding shareholders had been people or corporations proudly owning small networks of service stations or distributors, primarily situated within the space of Catalonia.
The corporate can be investing in renewable vitality manufacturing by creating photovoltaic technology parks.
Trafigura describes itself as a number one commodities group, owned by its workers and based over 30 years in the past. The corporate deploys infrastructure, market experience and its worldwide logistics community to maneuver oil and petroleum merchandise, metals and minerals, gasoline and energy.
The Trafigura Group additionally contains industrial property and working companies together with multi-metals producer Nyrstar, gas storage and distribution firm Puma Power, the Impala Terminals three way partnership firm and Greenergy, a provider and distributor of transportation fuels and biofuels.
Trafigura mentioned it invests in renewable vitality tasks and applied sciences to facilitate the transition to a low-carbon economic system, together with by H2Energy Europe and three way partnership Nala Renewables.
In January, Trafigura agreed to buy carbon dioxide (CO2) removing (CDR) credit from a Texas mission of 1PointFive, a subsidiary of Occidental Petroleum Corp. The emission offsets will come from a mission known as Stratos, 1PointFive’s first industrial-scale direct air seize (DAC) facility at present underneath development in Texas.
In accordance with 1PointFive, Stratos is designed to seize as much as 500,000 metric tons of CO2 yearly when absolutely operational and is anticipated to be the most important facility of its sort on the planet. 1PointFive describes itself as a carbon seize, utilization, and sequestration (CCUS) firm working to assist curb international temperature rise to 1.5°C by 2050 by the deployment of decarbonization options, together with Carbon Engineering’s DAC and Air To Fuels know-how options alongside geologic sequestration hubs.
To contact the writer, e-mail rocky.teodoro@rigzone.com
Generated by readers, the feedback included herein don’t replicate the views and opinions of Rigzone. All feedback are topic to editorial assessment. Off-topic, inappropriate or insulting feedback can be eliminated.
