Storage tank provider Royal Vopak has announced that it and its partners Greenergy and Royal Dutch Shell have completed the acquisition of the Coryton refinery in Essex, which they will now transform into an import and distribution terminal, to be re-named the Thames Oil Port. The partners bought the facility from its administrators PricewaterhouseCoopers, which has been in charge of operations at the site since refining and marketing firm PetroPlus had to abandon the facility earlier in the year.
Vopak first announced that it, along with oil major Royal Dutch Shell and fuel supply company Greenergy, had agreed terms with PricewaterhouseCoopers in June. The deal officially went through on September 28, it said.
The new facility will boast the capability to store around 500,000 cubic metres of oil after the initial stages of development are completed, with a plan to double that coming later on. Vopak already operates 83 terminals around the world, managing 29m cubic metres of fuel in 31 countries.
PetrolWorld 03102012