Enbridge, Enterprise to Develop GoM Crude Export Terminal
Enbridge Inc and Enterprise Products Partners LP on Monday signed an agreement to jointly develop a deepwater offshore crude oil export terminal in the Gulf of Mexico capable of loading Very Large Crude Carriers.Both pipeline operators will work to finalize an equity participation agreement that would provide Enbridge an option to purchase ownership interest in Enterprise's Sea Port Oil Terminal (SPOT), subject to SPOT receiving a deep-water port license, Enbridge said in a statement.The companies would first jointly develop the SPOT project…
Petrobras, Açu Petróleo Sign for Ship to Ship Operation in Port of Açu
Petrobras and Açu Petróleo (a partnership of Prumo Logística and Oiltanking) signed a contract to carry out ship to ship operations at the company's Petroleum Terminal (T-OIL), located in the Complex of Port of Açu, in the north of the state of Rio de Janeiro.The contract establishes up to 48 operations with Suezmax and VLCC (Very Large Crude Carrier) vessels and lasts for 24 months, which may be extended for the same period. Petrobras currently operates only at their own terminals: Angra dos Reis (TEBIG) and São Sebastião (TEBAR) for oil exports.Last week…
German LNG Terminal Signs New Pact
German LNG Terminal GmbH, the joint venture driving forward Germany’s first LNG terminal in Brunsbuettel, has reached another long-term commercial capacity agreement with an unnamed global LNG player.The gas infrastructure company consisting of N.V. Nederlandse Gasunie (Gasunie), Oiltanking GmbH and Vopak LNG Holding B.V said in a press release that the parties agreed on the commitment of a substantial part of the terminal capacity.Negotiations with other interested parties are ongoing.
RWE Reserves German LNG Import Capacity
Europe’s leading energy companies RWE and German LNG Terminal GmbH, the joint venture driving forward Germany’s first LNG terminal in Brunsbüttel in Northern Germany, have reached an agreement for a considerable part of the terminal’s capacity on a long-term basis.This contract follows a successful “Open Season” in which market interest was tested. The total capacity of the combined LNG import and small-scale terminal will be 5 billion cubic metres. RWE has signed a contract that guarantees RWE access to substantial annual capacity.Andree Stracke…
Port of East London to Expand its Petroleum Footprint
More than 100 attendees representing 97 companies have shown keen interest in the Port of East London’s plans to recommission an existing tank in the port for handling of liquid bulk and to introduce a liquid bulk terminal through a 25-year port concession awarded to a private, empowered entity.The companies attended a compulsory briefing on May 9, 2018 held by Transnet National Ports Authority (TNPA). TNPA recently advertised a request for proposals (RFP) – reference number TNPA 2017/01/013/CM – with the intention to appoint a terminal operator to finance…
Odfjell Divests Share in Singapore Tank Terminal
Odfjell Terminals B.V. has entered into an agreement with a fund managed by Macquarie Infrastructure and Real Assets to sell its 50 percent ownership in Oiltanking Odfjell Terminal Singapore Pte Ltd for a price around $300 million. This implies an enterprise value of around $330 million for Odfjell Terminals B.V.'s share in the Singapore terminal. “This divestment is in line with our strategy to focus on the terminals where we have managerial control of the assets and to further invest in growth opportunities in our core markets…
Traders Shift Oil Products out of Storage
Short-term appetite for oil products has jumped; that is pushing traders to take oil products out of storage. Some energy traders in Southeast Asia are cutting their use of storage tanks as short-term demand for oil products soars, hitting companies that rent out storage at a time when many of them have just expanded their capacity. Three traders told Reuters they have cut the amount of oil they hold in tanks or decided not to renew storage contracts in the past year. A shift away from…
Oiltanking Grindrod Calulo, Transnet Ink Agreement
Transnet National Ports Authority (TNPA) appointed Oiltanking Grindrod Calulo Holdings to plan, fund, construct, maintain and operate a new liquid bulk handling facility at the Port of Ngqura. This Build, Operate and Transfer (BOOT) agreement was concluded in December 2016, after an open tender process. The concept engineering design as well as the topographical and geotechnical survey has been completed and construction is due to commence in the 4th quarter of 2017, with commissioning planned for the 3rd quarter of 2019.
Transnet Appoints Ngqura Liquid Bulk Terminal Operator
The Port of Ngqura is poised to play a vital role in ensuring the security of South Africa’s fuel supply, while creating a new petroleum trading hub for Southern Africa in anticipation of the relocation of existing liquid bulk facilities from Port Elizabeth. This follows the conclusion of an agreement between Transnet National Ports Authority (TNPA) and Oiltanking Grindrod Calulo (Pty) Ltd (OTGC)to plan, fund, construct, own, maintain and operate a new liquid bulk handling facility at the Port of Ngqura.
Boskalis Bags Brazil's Terminal Expansion Deal
Royal Boskalis Westminster N.V. (Boskalis) has been awarded a contract by Açu Petróleo S.A. (joint venture company of Prumo Logística S.A. and Oiltanking Gmbh) for the expansion of the Porto do Açu Oil Transhipment Terminal in Rio de Janeiro State, Brazil. The contract has a total value of approximately EUR 120 million. The expansion comprises the deepening, widening and extension of the access channel and turning basin. In total, approximately 32 million cubic meters of sand, silt and clay will be dredged. The activities will commence immediately and are expected to be completed late 2017.
Prumo Sells 20% of Brazil Acu Oil Terminal to Oiltanking
Prumo Logistica SA , the Brazilian port operator controlled by U.S.-based EIG Global Energy Partners, agreed to sell 20 percent of its oil terminal at Brazil's Port of Açu to Germany's Oiltanking for $200 million, Prumo said on Thursday. Under the agreement Oiltanking will also manage the Port of Açu Oil Terminal, which has the capacity to transfer 1.2 million barrels a day of petroleum and can handle the largest oil tankers, known as very large crude carriers, or VLCCs, Prumo said in a statement. Oiltanking is a subsidiary of Marquard & Bahls, a family-owned company based in Hamburg.
S.African Crude Blending Terminal up by 2017
New 13.2 mln barrel crude blending terminal for S.Africa; Oil majors and global oil traders sign on. Using the world's first dedicated crude oil blending terminal, South Africa will by 2017 mix different grades of crude oil for export to refineries across Asia, enabling them to produce cleaner fuels more cheaply, an official said on Thursday. Construction of the 2 billion rand ($161 million) fuel blending farm, which consists of 12 massive concrete bunkers, should start in August with the first output expected for the second quarter of 2017…
New S. African Crude Blending Terminal to Supply Asia from 2017
Using the world's first dedicated crude oil blending terminal, South Africa will by 2017 mix different grades of crude oil for export to refineries across Asia, enabling them to produce cleaner fuels more cheaply, an official said on Thursday. Construction of the 2 billion rand ($161 million) fuel blending farm, which consists of 12 massive concrete bunkers, should start in August with the first output expected for the second quarter of 2017, said Pieter Coetzee, a director at OiltankingMogs, a joint venture firm developing the terminal.
Oiltanking: Indonesia Terminal Opening Delayed to Q4
Terminal ready earliest in October or November. Independent storage operator Oiltanking's new facility in Karimun, Indonesia will be ready in the fourth quarter of 2015, delayed from an initial planned start-up in the third quarter, a senior company official said on Wednesday. The terminal will start up at the earliest in October or November, said Sjoerd Boer, vice president at Oiltanking Asia-Pacific's commercial division. The delay is not major and is not unusual for a project of this size, he said.
Enterprise: Clients Must Pay for Dock Work
Enterprise Products Partners LP said on Wednesday that companies using its crude oil storage facility in the Houston Ship Channel must pay extra for dock services, brushing off complaints from client BP Plc . "We believe if you want a service, you pay for it," Enterprise Chief Operating Officer Jim Teague told analysts when asked about concerns, first reported by the Wall Street Journal, that the company's strong position in Gulf Coast storage gives it too much pricing power. Britain's BP has reportedly told the U.S.
BP Exported Super-Light Texas Crude
BP Plc exported nearly 670,000 barrels of minimally processed super-light crude oil from the Houston Ship Channel more than a week ago, according to ClipperData, an industry firm that tracks crude movements. The 667,638-barrel cargo left Enterprise Products Partners' ship channel docks - part of the company's recent $4.41 billion acquisition of Oiltanking Partners LP - on Feb. 15 bound for Rotterdam in The Netherlands, ClipperData partner Abudi Zein said in an interview. The shipment's…
Enterprise Products Buys Controlling Stake in Oiltanking Partners
Pipeline company Enterprise Products Partners LP said it has acquired a 64.7 percent limited partner interest in crude storage provider Oiltanking Partners LP as well as a 2 percent general partner interest for $4.41 billion. The deal will help Enterprise Products build its liquefied petroleum gas export business. Oiltanking Partners owns marine terminals on the Houston Ship Channel and the Port of Beaumont, Texas with a total of 12 docks and storage capacity for about 24 million barrels of oil and petroleum products on the Gulf Coast.
Kinder Morgan Bolsters Gulf Logistics Infrastructure
To capitalize on a flood of domestic and Canadian crude into the U.S. Gulf Coast, logistics giant Kinder Morgan Energy Partners is spending more than $1.5 billion in Houston to build the most flexible oil and fuel transport hub in the country. The company's expanding infrastructure smorgasbord includes a bit of almost everything at the increasingly crowded Houston Ship Channel - all next door to the biggest concentration of refiners in the country. The buildout, executives say, responds to the increasingly dynamic world of physical crude trading in North America…
Blueknight Energy to build 160-Mile Pipeline in U.S.
Blueknight Energy Partners, today announced plans to build a major pipeline linking the emerging East Texas Eaglebine/Woodbine crude oil resource play to Oiltanking Houston, a crude oil and product terminal on the Houston Ship Channel, owned and operated by Oiltanking Partners, L.P. The project is backed by long-term shipper commitments, one of which is a transportation agreement with a joint venture between Vitol, a diversified multinational energy company, which also owns 50% of BKEP's general partner…
Oiltanking Sells Indonesia Storage, Blames Subsidies
Independent tank operator Oiltanking said on Tuesday it had sold a 289,000 cubic metre storage facility in Merak, Indonesia, blaming oil subsidies for making the business unprofitable. Oiltanking, the world's second-largest independent tank storage provider for oil products, chemicals and gases, sold the facility in August to local companies active in the oil- and coal-shipping industry, a spokeswoman told Reuters in an email. The Merak terminal was designed to serve as an independent storage facility for international players in the growing import market for petroleum products, she said.
