Aramco buys stake in Rotterdam fuel terminal

Aramco Overseas Company B.V. (AOC), a subsidiary of Saudi Aramco, has entered into an arrangement to buy Gunvor Group’s stake in a Rotterdam terminal.

AOC will buy a stake in the Maasvlakte Olie Terminal (MOT) from Gunvor with the deal expected to be completed by the end of October, according to a company statement.

Gunvor acquired its stake in MOT through its acquisition of Gunvor Petroleum Rotterdam in 2016, and the divestment of MOT is part of Gunvor’s strategy to further develop its Rotterdam refining operations.

AOC’s investment in MOT will allow for expanded offerings in the North West Europe refining hub. The new acquisition will complement Saudi Aramco’s export activities in Europe, strengthen the company’s supply chain and enhance its customer services in the region, says the company.