Headquartered in New York, Hartree Bulk Storage intends to capitalise on the strong global demand for bulk liquids storage infrastructure via mergers and acquisitions, greenfield projects and joint venture partnerships.

The newly formed platform will provide independent solutions to refiners, petrochemical manufacturers, marketers and producers of crude oil, refined products, NGLs and other bulk liquids.

Hartree and Oaktree began their successful partnership in early 2015, when Oaktree funds purchased Hess Corporation’s stake in Hess Energy Trading Company.

Hartree Bulk Storage expands their partnership and provides a dedicated platform to take advantage of Hartree’s 20+ years of experience in the oil and refined products markets by developing safe and reliable storage solutions that offer flexible, multimodal connectivity for its customers.

“Hartree’s deep understanding of the energy supply chain and local market dynamics, coupled with its ability to identify future market trends, will guide the ability of Hartree Bulk Storage to provide superior connectivity and optionality to its customers,” said Guy Merison, Hartree’s co-founder. “Over the past two decades, Hartree has consistently utilised storage solutions for its trading business, and we believe that in partnership with Oaktree funds, Hartree Bulk Storage can develop a network of storage facilities with strategic importance to its customers.”

“Oaktree is very pleased to expand our partnership with Hartree. Our shared vision and common investing principles have generated attractive returns at Hartree over the past four years,” said Rajath Shourie, Managing Director at Oaktree. “We are excited to build an integrated bulk storage and logistics solutions provider that leverages the unique market perspective of a commodity merchant.”

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