Vertex Energy has signed a one-year lease for the storage of black oils at a terminal in Seabrook, Texas, US.
The lease term begins on 1 January 2011 and has provisions for renewals following the initial term.
Vertex Energy is involved in the aggregation, recycling and processing of distressed hydrocarbon streams. The terminal will be used as a rail logistical hub for the companys Black Oil Division.
This new terminal location, near Galveston Bay, will allow us to further expand the capacity and reach of our Black Oil Division. By adding this hub to our existing operations in Baytown, Texas, we are well positioned to source increasing amounts of used oil. This expansion also reflects our commitment to continue to provide our customers with quality feedstock that will help keep their operations running smoothly. Additionally, the increased capacity from our new terminal will assist us in handling our growing internal feedstock needs that have resulted from our recent increases in production at our Thermal-Chemical Extraction Process facility, Benjamin Cowart, CEO of Vertex, states.
Source: Business Wire