BUNKER INDEX :: Price Index, News and Directory Information for the Marine Fuel Industry



« News Home
:: Monthly Archive

News Topics
:: Air Pollution
:: Agreements & M&A's
:: Alternative Fuels
:: BunkerBlog
:: Cargoes & Storage
:: Company News
:: Efficiency, Costs & Charges
:: Environment
:: Events
:: Financial
:: Fuel Quality & Testing
:: Lubes & Additives
:: Oil Spills
:: People
:: Port News
:: Projects
:: Regulation, Legal
:: Services, Products,Technology
:: Statistics & Research
:: Vessels

Regional Archive
:: Americas
:: Asia/Oceania
:: Europe
:: M.East/Africa


BUNKER INDEX :: Price Index, News and Directory Information for the Marine Fuel Industry
Home » News



Agreement to develop oil import terminal at Coryton

Royal Vopak, Greenergy and Shell UK agree to purchase assets of the former Coryton refinery.



Image credit:


Updated on 27 Jun 2012 06:53 GMT

Royal Vopak, Greenergy, and Shell UK Ltd. reached an agreement yesterday, June 26, with the joint administrators of Petroplus Refining & Marketing Limited, to purchase assets of the former Coryton refinery.

The three companies plan to develop and invest in a state-of-the-art import and distribution terminal to be managed by Vopak. The initial storage capacity will be around 500,000 cubic meters (cbm), with potential to expand to up to 1 million cbm in later stages.

Vopak, Greenergy and Shell will be equal shareholders of the new joint venture, which will acquire and develop the assets and the site.

After reaching final agreement on the future design and operational capabilities, Vopak, on behalf of the joint venture, will execute the development of the new facility and operate the terminal when the works have been completed. Greenergy and Shell will sign long-term contracts with the joint venture. The deep water import terminal is set to play an important role in the supply of oil products to the UK.

The investment will be used to convert components of the current refinery infrastructure for use as an import terminal. This will involve operational, technical, safety and environmental enhancements to the current infrastructure, including modern blending technology.

Eelco Hoekstra, Chairman of the Executive Board of Vopak commented: "Following the developments in the refining industry in the current market, we look forward to teaming up with our partners Greenergy and Shell and developing this facility into a state-of-the-art import and distribution terminal at this strategic location, ensuring safe and efficient operations for the UK market."

Graham van't Hoff, Chairman, Shell UK said: "This move will provide a long term, secure supply for our customers in the UK and will support the recent expansion of our retail network, delivering competitive supply chain costs."






Related Links:

Petroplus files for insolvency
Coryton manager to meet union representatives
Petroplus posts US$80 million Q2 loss
Petroplus to sell Antwerp refinery to Vitol
Reichstett refinery to be converted into a terminal
United Kingdom

Latest News:

Arkas and Sumitomo ink Turkey LNG bunkering accord
MEPC 73: Coalition calls for 'urgency' to adopt CO2 reduction measures
Concept ship shows IMO CO2 reduction targets can be met: Project Forward
Oil and fuel oil hedging market update
Tallink signs LOI to build second LNG-fuelled ferry
Will Saudi Arabia be able to replace Iranian oil?
North Sea Port sees biggest LNG bunker delivery to date
Gaseous fuels 'the only way forward': MAN CSO
Fluxys and Novatek sign Rostock lease for LNG terminal, bunkering
ExxonMobil launches new Mobilgard lube for high-speed diesel engines
Oil market closed higher following API draw
Oil and fuel oil hedging market update




Page Links:

Prices
Africa
Asia
Latin America
Middle East
North America
North Europe
South Europe
Index Summary
Price Highlights
Commentaries
Futures
Prices
Antwerp
Busan
Fujairah
Houston
Istanbul
Kaohsiung
Las Palmas
Maracaibo
New Orleans
Piraeus
Rio de Janeiro
Rotterdam
Santos
Singapore
News
Latest News
Blogs
Archive
Americas
Asia
Europe
Middle East
News
Air Pollution
Agreements & M&A's
Alternative Fuels
Cargoes & Storage
Efficiency, Costs & Charges
Environment
Events
Financial
Fuel Quality
Lubes & Additives
Oil Spills
People
Port News
Projects
Regulation/Legal
Services, Products, Technology
Statistics & Research
Vessels
Contact & Terms
Contact Us
Advertise
Terms & Conditions
Privacy Policy
Events
Upcoming Events