Aramco Overseas Company B.V. (AOC), a subsidiary of Saudi Aramco subsidiary, is to acquire a stake in Rotterdam’s Maasvlakte Olie Terminal (MOT) from the Gunvor Group.
Gunvor acquired its stake in MOT through its acquisition of Gunvor Petroleum Rotterdam in 2016, and its divestment is part of Gunvor’s strategy to further develop its Rotterdam refining operations.
AOC’s investment in MOT will add to its current participation in other facilities in the same area, allowing for expanded offerings in the North West Europe refining hub. This will complement Saudi Aramco’s export activities in Europe, strengthen the company’s supply chain and enhance its customer services in the region.
Saudi Aramco is an integrated energy and chemicals company. The company produces one of every eight barrels of the world’s crude oil supply.
The Gunvor Group is one of the world’s largest independent commodities trading houses by turnover, creating logistics solutions that move physical energy and bulk materials from where they are sourced and stored to where they are demanded most.
27th October 2017