EMEA News
New Oil Terminal, Blending Facility Planned for South Africa
A planned 13.2 million barrel-capacity oil storage and blending terminal in South Africa's Port of Saldanha Bay may help the port establish itself as a global crude transshipment hub, according to Oiltanking Grindrod Calulo Holdings (Pty) Ltd (OTGC) and Mining, Oil and Gas Services Pty Ltd (MOGS), which are working together to establish the facility.
The port is close to tanker routes that link oil producing regions to oil markets, and its location lends itself to the blending of West African and South American crude oils.
The terminal's jetty will be capable of handling vessels up to very large crude carriers (VLCCs).
OTGC, a subsidiary of independent oil storage company Oiltanking GmbH (Oiltanking), has joined with South Africa's MOGS, which initiated the project in 2011, through a 50-50 joint venture called Oiltanking MOGS Saldanha (Pty) Ltd (OTMS).
MOGS is part of the Royal Bafokeng Holdings (Pty) Limited (RBH), while Oiltanking is part of German's Marquard & Bahls AG.
The International Bunker Industry Association (IBIA) recently warned that, despite the strong potential of its location, South Africa's bunker industry is "on the verge of collapse."
