Trafigura, a leader in the global commodities market, has acquired 50 percent ownership of Meroil Tank S.L. from Meroil S.A., a major oil operator, after securing the necessary regulatory approvals. The newly established joint venture, Meroil Tank, will operate as a 50:50 partnership with a focus on refined oil product storage within the port of Barcelona. This facility, boasting a capacity of 356,000 cubic meters, will continue to store refined oil products such as gasoil, gasoline, and jet fuel, as well as biofuels, to meet the needs of current and prospective clients.
Strategic Partnership for Enhanced Storage and Distribution Capabilities
Jamie Torrance, Global Head of Distillates for Trafigura, expressed excitement about collaborating with Meroil, a notable logistics and wholesale fuel provider in Barcelona. With advanced logistics and storage flexibility, the venture is well-positioned to support the import of refined products and biofuels across the region. Torrance also highlighted plans for developing the terminal’s logistics infrastructure to align with the evolving market demands for low-carbon fuels.
Strengthening Meroil’s Business in Spain Through Collaboration
Meroil President José Luís Porté expressed gratitude for the partnership with Trafigura, noting that the collaboration with a global leader in oil trading will bolster Meroil’s business growth within Spain. Together, Meroil and Trafigura aim to enhance storage and distribution solutions, meeting the rising demand for energy products and supporting the industry’s transition to more sustainable fuel options.
Did you subscribe to our daily Newsletter?
It’s Free Click here to Subscribe!
Source: Trafigura
