Oiltanking Announces Sale of Bulgaria Terminal
11.11.2022 By Ella Keskin - NEWS

November 11, 2022 [Reuters] – Logistics service provider for tank terminals, Oiltanking, has announced that it has entered into an agreement to sell its 91.1% stake in the liquid storage terminal in Varna to the Astra Group.

 

The terminal with a storage capacity of 25,860 m3 is located at the Black Sea in Devnya, Varna and provides storage and handling services for inorganic chemicals, biofuels and edible oils. The remaining shares of the Bulgaria terminal are held by the Port of Varna and are excluded from the transaction.

Matti Lievonen, CEO of Oiltanking says: ‘We sincerely thank our customers for their trust and the local team for their loyalty, dedication and hard work over the past two
decades. This terminal continues to have great potential, which we are confident the Astra Group is the right party to exploit.’

‘It is with great honour and gratitude that we were able to accomplish the deal with Oiltanking, who we consider a sincerely trustworthy and collaborative partner. We will do our utmost to make sure that the transition occurs as smooth as possible for all parties concerned and to further develop the future of Oiltanking Bulgaria,’ adds
Stanko Stankov, CEO of Astra-Finance AD.

The transaction is expected to be completed by the end of Q1 2023.


Pro Trial: Access 11,340 Tank Terminal and Production Facilities

11,340 tank storage and production facilities as per the date of this article. Click on the button and register to get instant access to actionable tank storage industry data

Will Brent Break Below $70 This Year?
03.28.2023 - NEWS
March 28, 2023 [OilPrice.com] – Brent oil prices briefly slumped to $70 per barrel on Monda... Read More
Oil Updates: Crude Price Falls; Goldman Sachs Cuts Brent Oil Forecasts
03.28.2023 - NEWS
March 28, 2023 [ARAB NEWS] – Oil prices fell on Monday to their lowest in 15 months on conc... Read More
Oil Falls in Asian Trade as US Crude Inventories Rise Unexpectedly
03.28.2023 - NEWS
March 28, 2023 [Herald LIVE] – Traders await US Energy Information Administration data and ... Read More
Biggest Oil Traders Avoiding Russian Business
03.28.2023 - NEWS
March 28, 2023 [RIGZONE] – The world’s biggest oil traders say they are still avoiding ha... Read More