IFM, Vitol and VIP Take Joint Ownership of Vitol Tank Terminals International

Laxman Pai
Monday, November 5, 2018

Vitol Investment Partnership(VIP), an investment vehicle sponsored and managed by Vitol, and IFM Investors, a global provider of investment services to institutional investors,  have agreed to acquire Buckeye Partners LP’s 50% equity interest in Vitol Tank Terminals International  (VTTI), a leading global independent provider of energy storage.

On completion, VTTI will be owned 50% by IFM and 50% by Vitol and VIP. It will continue to be managed by an independent management team led by Rob Nijst, CEO.

The transaction is subject to certain conditions precedent and is expected to close by year end.

Rob Nijst, CEO VTTI says:  “It has been a pleasure working with Buckeye over the last two years and we wish Buckeye the very best in its future endeavours. We are looking forward to astrengthened cooperation with IFM, Vitol and VIP, working together to further grow our global network of terminals”.  

Vitol is an energy and commodities company; its primary business is the trading and distribution of energy products globally – it trades over seven million barrels per day of crude oil and products and, at any time, has 250 ships transporting its cargoes.

VTTI has storage facility in the USA, and a completely rejuvenated Soviet-era facility in Russia, said the company.

Categories: Ports Energy

Related Stories

Russia's Lukoil Takes Up Gunvor’s Offer for Foreign Assets

Southeast Asia’s 2GW Cross-Border Offshore Wind Scheme Targets 2034 Buildout

Energy Drilling’s EDrill-2 Rig Starts Ops for PTTEP in Gulf of Thailand

Eni-Petronas Gas Joint Venture Up for Launch in 2026

Shell’s Brazil-Bound FPSO Starts Taking Shape

MODEC Ramps Up Hammerhead FPSO Work After ExxonMobil's Go-Ahead

Aesen, DOC JV Targets Subsea Cable Logistics

Timor Gap Boosts Stake in Finder Energy’s Timor-Leste Oil Fields

Brownfield Output Decline Accelerates, says IEA

Norwegian Oil Investment Will Peak in '25

Current News

Russia's Lukoil Takes Up Gunvor’s Offer for Foreign Assets

How Hot Is Your Cable? Understanding Subsea Cable Thermal Performance

Sponsored: UAE Breaks Ground on GW-Scale Renewable Energy Hybrid

Pertamina Joins Petronas in Ultra-Deepwater Asset off Indonesia

Malaysia’s Petronas and Oman’s OQEP Strengthen Oil and Gas Ties

Southeast Asia’s 2GW Cross-Border Offshore Wind Scheme Targets 2034 Buildout

Pharos Energy Kicks Off Drilling Campaign Offshore Vietnam

Viridien to Shed More Light on Malaysia’s Offshore Oil and Gas Potential

US Pressure on India Could Propel Russia's Shadow Oil Exports

Energy Drilling’s EDrill-2 Rig Starts Ops for PTTEP in Gulf of Thailand

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com