• About
  • Advertise
  • Subscribe
  • Contact
Friday, January 22, 2021
Tank Storage Magazine
ADVERTISEMENT
  • Home
  • Awards
  • News
    • All News
    • Terminal News
    • Technical News
  • Features
  • Videos
  • Tank Talk
  • Subscribe
    • Subscribe to Tank Storage Magazine
    • Digital Downloads – Purchase Individual Magazines
    • Newsletter Sign Up
  • Advertise
    • Magazine Advertising
    • Online Advertising
    • Request Media Kit
    • Download Independent Audit
  • Events
    • Global Events
    • Awards
    • StocExpo
  • Directory

To search please Login or Register for free.

  • Home
  • Awards
  • News
    • All News
    • Terminal News
    • Technical News
  • Features
  • Videos
  • Tank Talk
  • Subscribe
    • Subscribe to Tank Storage Magazine
    • Digital Downloads – Purchase Individual Magazines
    • Newsletter Sign Up
  • Advertise
    • Magazine Advertising
    • Online Advertising
    • Request Media Kit
    • Download Independent Audit
  • Events
    • Global Events
    • Awards
    • StocExpo
  • Directory

To search please Login or Register for free.

Tank Storage Magazine

To search please Login or Register for free.

Home Terminal News

NuStar completes Texas City sale to BWC

December 8, 2020
in Terminal News
2 min read
NuStar profits on expansion programme
Share on FacebookShare on TwitterShare on Linkedin

NuStar Energy has closed the sale of its Texas City terminals to BWC Terminals for US$106 million (€91 million).

BWC first announced that it had reached an agreement to buy the Texas City terminals from NuStar early in November 2020. Terminal 1 has a total capacity of 2,681,000 bbl, storing clean products, black oils, blendstocks, vacuum gas oil (VGO), and chemicals, as well as rail and truck loading and unloading facilities and three ship/barge docks. Terminal 2 has a total capacity of 131,000 bbl, storing light petroleum products. It has one barge dock with vehicle access.

Brad Barron, president and CEO of NuStar, says that while the decision to sell the terminals was ‘difficult’, the company will be able to use the proceeds to improve its debt metrics and self-fund a larger portion of its capital programme.

‘While the Texas City terminals are great assets with outstanding operations and employees, the location and unique configuration of these terminals were no longer synergistic with NuStar’s strategies for our other Gulf Coast assets. For this reason, we determined that the best path forward for the continued success of these facilities and NuStar was to allow them to be acquired by an entity that can take advantage of the terminals’ niche petrochemical and petroleum capabilities. We are pleased that BWC Terminals has just such a business model,’ Barron adds.

Mike Suder, CEO of BWC, says that the company is ‘excited’ to finalise the acquisition, which complements BWC’s existing terminal network storing hydrocarbons, chemicals, renewables, and agricultural products across North America.

‘The addition provides increased growth opportunities in the Gulf Coast region to optimise and further develop our operational capabilities in support of the supply chain needs of our customers,’ he says.

Next Post
Brooge Energy to commission eight new tanks in 2020

Brooge signs three Fujairah storage contracts

About Tank Storage Magazine

Tank Storage Magazine is published by Easyfairs UK Ltd.

Tank Storage Magazine is the leading industry publication dedicated exclusively to the bulk liquid storage and terminal sector.

It has been delivering the latest news, developments, analysis, products and innovations for 15 years.

Published 7 times a year, the publication is read by CEOs, terminal managers, business development managers and senior engineers within the oil, gas and petrochemical market.

Site Links

  • Home
  • Awards
  • News
  • Features
  • Tank Talk
  • Videos
  • Subscribe
  • Advertise
  • Events
  • Directory
  • Home
  • Awards
  • News
  • Features
  • Tank Talk
  • Videos
  • Subscribe
  • Advertise
  • Events
  • Directory

© 2020 Easyfairs UK Ltd | 2nd Floor, Regal House | 70 London Road | Twickenham | TW1 3QS | United Kingdom | Registered in England No. 05067979

No Result
View All Result
  • Home
  • Awards
  • News
    • All News
    • Terminal News
    • Technical News
  • Features
  • Videos
  • Tank Talk
  • Subscribe
    • Subscribe to Tank Storage Magazine
    • Digital Downloads – Purchase Individual Magazines
    • Newsletter Sign Up
  • Advertise
    • Magazine Advertising
    • Online Advertising
    • Request Media Kit
    • Download Independent Audit
  • Events
    • Global Events
    • Awards
    • StocExpo
  • Directory

© 2020 Easyfairs UK Ltd | 2nd Floor, Regal House | 70 London Road | Twickenham | TW1 3QS | United Kingdom | Registered in England No. 05067979

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In