Following the sale of its two biggest US assets in 2014, Oiltanking is on the expansion track again with a newly acquired terminal and ambitious plans for a new deepwater facility in Texas
Oiltanking North America’s decision to re-enter the crude storage sector was a pragmatic one supported by favourable global market conditions and better shale economics.
The company’s North American division has hit the headlines recently following the acquisition of Oiltanking Galveston Country terminal and a 220 acre parcel of industrial land in Texas City for the development of the Texas Independent Deepwater Expansion terminal (TIDE).
Two years prior to this, the company sold its Oiltanking Partners entity, comprising storage assets on the Houston Ship Channel and in Beaumont, Texas following a period of rapid growth as a result of the shale boom. The proceeds from the sale were invested back into the company’s growth plans both in the US and internationally.
However, the sale left a ho...