11.03.16. Prax Terminals has completed the acquisition of the Jarrow fuels terminal from Shell. The terminal, located near Newcastle Upon Tyne, UK, will have capacity for 40,000 cbm of diesel, gasoil, kerosene, gasoline and aviation fuel storage.
Prax is owned by Weybridge, UK-based State Oil Ltd. State Oil’s managing director Sanjeev Kumar said: “This acquisition represents the group’s continuing aspiration to procure further strategic storage assets in the UK and globally. These will provide the group with the power to maximise market movements, to exploit arbitrage opportunities and will provide synergies between the wholesale and trading arms of the group.”

11th March 2016