Oiltanking has sold its interest in its 59,600 m3 terminal at the Port of Matola in Mozambique, to a consortium of Energi Asia DMCC and Al Braik Investments, both based in the UAE.
Matola Terminal de Armazenamento de Petróleos was formerly known as Oiltanking Matola, and was commissioned in December 2017. The terminal is mainly an import terminal for gasoline, gasoil and kerosene, and serves the local market and the surrounding region, with good sea, rail and road connections.
Oiltanking held an 80% stake, with the remaining 20% held by local companies. With the acquisition of Oiltanking’s stake, effective 31 May 2021, Energi Asia DMCC and Al Braik Investments have taken over all employees, operations, customer contracts and legal ownership of Matola Terminal de Armazenamento de Petróleos. Local firms will continue to hold their 20% share.
Energi Asia is a subsidiary of Dubai fuels distributor Energi Holding, which owns and operates over 2 million barrels of renewable fuels, crude oil, petroleum products, chemicals and vegetable oil storage across Pakistan and Africa. Al Braik Investments is a diversified holding company founded in 2007 in the UAE to consolidate various entities owned by Al Braik family, including oil and gas, real estate, and heavy industrial engineering in the Gulf region and Africa.
‘The divestment of the Matola terminal supports Oiltanking’s strategy 2025 and is a result of the continuous evaluation and optimization of Oiltanking’s asset portfolio in the direction of the strategy. The terminal was the only investment of Oiltanking in Mozambique,’ says Oiltanking in a statement.