Refiner Valero Set to Open US$150mn Altamira Terminal in October
04.24.2023 By - NEWS

April 24, 2023 [bnamericas] – Works on refiner Valero’s US$150mn Altamira fuels storage terminal in Mexico’s Tamaulipas state will conclude in October.


Final testing will begin in September, when the first fuel tanker is expected to arrive at the terminal, Bloomberg quoted Valero México head Carlos García as saying. Construction started in July 2021 and start-up was planned for mid-2023.

The new terminal will store 1.1Mb (million barrels) of gasoline and diesel, allowing Valero to close the year with 5Mb storage capacity in Mexico, close to its goal of 5.8Mb, after a US$1bn investment.

The terminal will be operated by OTM Mexplus Puertos and is being built by Grupo México subsidiary GMSI.

Work on Valero’s Nuevo León and Jalisco terminals continues, García said, both of which are being built by Grupo México and demand a combined US$230mn.

The terminals are part of a bid to expand Valero’s supply chain in Mexico and reach large metropolitan consumption hubs, including Mexico City, Guadalajara and Monterrey, as well as smaller locations. Valero, the largest refiner in the US, is betting on a private downstream supply chain in Mexico, which also includes an alliance with rail operator Ferromex.

Pro Trial: Access 12,600 Tank Terminal and Production Facilities

12,600 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

BASF and Stolt Tankers Introduce the Low-Water Chemical Tanker Stolt Ludwigshafen During Ship Christening Ceremony
05.29.2023 - NEWS
May 29, 2023 [Stolt Neilsen]- On May 26, 2023, the new low-water inland tanker Stolt Ludwigshafen... Read More
Turkey, Iraq Seek to Boost Trade at Summit in Erbil
05.29.2023 - NEWS
May 29, 2023 [Rudaw]- Erbil on Sunday hosted the seventh Turkey-Iraq investment and trade summit,... Read More
Oil Supply won't be Affected by Stricter Price Cap Enforcement, IEA says
05.29.2023 - NEWS
May 29, 2023 [Reuters]-  “It may have some impact but countries once again reiterated that... Read More
Hedge Funds’ Ultra-Bearish Oil Bets Signal US Recession Angst
05.29.2023 - NEWS
May 29, 2023 [The Business Times]- MONEY managers who trade derivatives linked to oil and fuel p... Read More