Trafigura Forms JV with Spain's Meroil for Refined Oil Products, Biofuels

by Rocky Teodoro (RigZone) Commodity trading giant Trafigura has completed the acquisition of 50 percent of equity in Meroil Tank S.L. from Spanish oil operator Meroil S.A. for an undisclosed sum.

Meroil Tank will now operate as a 50:50 joint venture company with assets that include 356,000 cubic meters of refined oil products storage infrastructure within the port of Barcelona. The company will continue to serve its current as well as future customers to store refined oil products, including gasoil, gasoline and jet fuel, as well as biofuels, Trafigura said in a news release.

The joint venture aims to provide logistics and distribution of oil products and biofuels on both the national and international markets.

Meroil has the largest coastal terminal in Spain for the storage of oil products and biofuels, connected to the national pipeline system, according to the release.

The Trafigura Group also comprises industrial assets and operating businesses including multi-metals producer Nyrstar, fuel storage and distribution company Puma Energy, the Impala Terminals joint venture company and Greenergy, a supplier and distributor of transportation fuels and biofuels. READ MORE

Founded in 1993, Meroil was the first independent Operator in the country, playing a key role in the demonopolization of the oil sector in Spain. Its founding shareholders were individuals or companies owning small networks of service stations or distributors, primarily located in the area of Catalonia; the oil operator’s activity began in this region and soon expanded to the rest of Spain.

Today, Meroil has a network of service stations with a presence throughout the territory, providing products to fleets of ships, commercial airlines and the industry. Meroil has the largest coastal terminal in Spain for the storage of oil products and biofuels, connected to the national pipeline system.

Meroil has recently incorporated with Trafigura a valuable joint venture company, whose mission is to provide logistics and distribution of oil products and biofuels on both the national and international markets.

Meroil is allocating investments to renewable energy production by developing photovoltaic generation parks. Visit: www.meroil.es

Trafigura is a leading commodities group, owned by its employees and founded over 30 years ago. At the heart of global supply, Trafigura connects vital resources to power and build the world. We deploy infrastructure, market expertise and our worldwide logistics network to move oil and petroleum products, metals and minerals, gas and power from where they are produced to where they are needed, forming strong relationships that make supply chains more efficient, secure and sustainable. We invest in renewable energy projects and technologies to facilitate the transition to a low-carbon economy, including through H2Energy Europe and joint venture Nala Renewables.

The Trafigura Group also comprises industrial assets and operating businesses including multi-metals producer Nyrstar, fuel storage and distribution company Puma Energy, our Impala Terminals joint venture company and Greenergy, supplier and distributor of transportation fuels and biofuels. The Group employs over 12,000 people, of which over 1,400 are shareholders and is active in 156 countries. Visit: www.trafigura.com READ MORE