Repsol Downstream Mexico has secured more than 750,000 barrels of storage capacity in three different fuel storage terminals in Mexico.
The move is part of the company’s plans to grow its downstream business and develop its own downstream logistical network in the country.
Repsol reached an agreement with Mexican company Hydrocarbon Storage Terminal (HST), an affiliate of Compañía Logística de Hidrocarburos S.A. (CLH), to participate in HST’s fuels terminal project in the State of Mexico, securing 160,000 barrels of storage capacity.
Repsol also reached an agreement with Mexican company Tuxpan Port Terminal (TPT) and with an affiliate of Monterra Energy to participate in TPT’s fuels maritime terminal project in the State of Veracruz, securing 450,000 barrels of storage capacity.
It has further reached an agreement with Mexican company Olstor Services, an affiliate of the Akron group, to participate in Olstor’s fuels terminal project in the State of Jalisco, securing 150,000 barrels of storage capacity. These terminals are expected to be in operations by 2020.
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