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Tue 4 Aug 2009, 18:52 GMT

Vitol reaches tank storage 'milestone'


Global oil trader announces the completion of two 'key' projects in Buenos Aires and Amsterdam.

The Vitol Group announced today the completion of two key projects in its storage and terminals business, VTTI (Vitol Tank Terminals International).

At the Vitco terminal, near Buenos Aires, Argentina, eight new tanks have been added, providing an additional 54,000 cubic metres of capacity to the existing 126,000 cubic metres of storage.

Meanwhile, at the ETA Eurotank terminal in Amsterdam, Netherlands, four new tanks have been added, providing an additional 150,000 cubic metres of capacity to the existing 1,250,000 cubic metres of storage. Plans for a further 75,000 cubic metres of capacity are also in place, the company said in a statement.

Both projects were completed on budget and within a few weeks of estimated project closure dates.

“The completion of both the Amsterdam and the Vitco, Buenos Aires expansion projects are key milestones for VTTI and the Vitol Group and they provide additional capacity in key markets, for the benefit of all our customers“ said Rob Nijst [pictured], CEO of VTTI.

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