Shell Completes Sale of Terminal in JAFZA to Tristar
07.04.2022 - NEWS

July 3, 2022 [ZAWYA] – The full ownership transfer of the terminal to Tristar Group will be effective from July 1, 2022

 

Shell Markets (Middle East) Limited announced that it has completed the sale of the Shell oil products storage facility terminal located in the Jebel Ali Free Zone (JAFZA) area of Dubai to energy logistics firm, Tristar Group. The full ownership transfer of the terminal to Tristar Group will be effective from July 1, 2022.

Under the terms of the sales and services agreements signed between the two companies, Shell will continue to supply bitumen and lubricants products and services to its customers from the terminal .

Azmat Jafri, Shell’s General Manager of Customer Operations in Asia Pacific and China said, “While this agreement enables us to focus on our core operations and products, it also allows us to continue to provide our customers high quality bitumen and lubricants products and services. It reflects our commitment to United Arab Emirates (UAE) and our customers.”

Eugene Mayne, Tristar Group’s Chief Executive Officer said, “This agreement between Shell and Tristar is a testament to both our companies’ single-minded focus on our respective customers, and our shared vision to support the UAE to reinforce its role as a global logistics hub. This strategic asset transition allows us to expand our presence in JAFZA and our capacity to better serve our customers, offering them a fully integrated distribution service, which is now able to provide storage and distribution of bulk bitumen and lubricants.”

The completion of the sale was celebrated at an event in Dubai on June 30, 2022 attended by Eugene Mayne, Group CEO, Marco Bachechi, Group CFO, Balaji Nagabhushan, Group CAO, Raed AL Souki, Director- Business Development Middle East and Africa for Tristar Group, and Azmat Jafri, General Manager of Customer Operations in Asia Pacific and China and Marwan Ramadan, Regional Business manager and Project Manager for Shell and other officials from both companies.

Pro Trial: Access 10,390 Tank Terminal and Production Facilities

10,390 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

PNOC Seeks Creation of Strategic Petroleum Reserves
08.12.2022 - NEWS
August 12, 2022 [ The Philippine Star Global ] – State-run Philippine National Oil Co. (PNOC) w... Read More
Egypt to Double Oil Storage Capacity at Al-Hamra Port In 3 Years: Asharq
08.12.2022 - NEWS
August 12, 2022 [ Arab News ] – Egypt is working to double the oil storage capacity at Al-Hamra... Read More
Gulf Unit Invests
08.12.2022 - NEWS
August 12, 2022 [ Bangkokpost ] – Gulf International Investment (Hong Kong) Ltd (Gulf HK), a wh... Read More
Exlusive Uniper Could Swap Australian LNG for Atlantic Gas to Supply Europe Quicker
08.12.2022 - NEWS
August 12, 2022 [ Reuters ] – Germany’s Uniper is prepared to swap liquefied natural gas ... Read More