News listings

energy-pedia general news

Bahamas flagBahamas

South America / GoM >>> Bahamas

Bahamas: Equinor sells its oil terminal in the Bahamas


21 Feb 2023

Photo - see caption

Equinor has entered into an agreement with Liwathon for the sale of the Equinor South Riding Point oil terminal at the Grand Bahama Island in the Bahamas.

The terminal was purchased by Equinor in 2009 to enable the company to trade oil primarily originating from the American markets.

Photo - see caption
Equinor sells its oil terminal in the Bahamas

Alex Grant - portrait'Since we bought the South Riding Point terminal in 2009, the flow in the oil market in North America has changed significantly for Equinor and the company has increasingly sold crude to other regions globally. Consequently, we believe a new owner would be better positioned for the further development of the terminal,' says Alex Grant, Equinor’s senior vice president for Crude, Products and Liquids.

'This transaction supports our strategy to focus and concentrate the portfolio around core areas and allows us to redeploy capital where we believe we have a stronger competitive advantage. Liwathon will now take over ownership and commence a process to restart regular operations of the South Riding Point terminal.'

Liwathon will assume the responsibilities for the employees of South Riding Point.

The transaction is approved by Bahamian authorities.

Further commercial details on the transaction will not be disclosed.

Liwathon Group is an integrated logistics and investment business. The company currently operates four facilities in Estonia with a storage capacity of over one million m3. The company provides an extensive range of services in the area of handling, transport and storage of liquid fuels traded globally.

Original article link

Source: Equinor





Bookmark and Share


A global information service for upstream oil and gas opportunities - divestitures, farmins and farmouts and licensing rounds.


Subscriber Only Deals

Current Deals

Current Upstream Deals: 235

Completed Deals

Completed Upstream Deals: 6569

Company Profiles

Current Company Profiles: 2912

Corporate Activity

Current Corporate Activity articles: 4146

Companies Looking

Current number of articles: 466

Company Sales

Current Company Sales articles:1658

Geostudies

Current Geostudies articles: 968

How to subscribe

energy-pedia Jobs

RSS Feed Widget
See all jobs...


energy-pedia Databank

The energy-pedia databank contains links to information on the world financial and energy markets, including share prices, oil and gas prices and the global stock exchanges. Read more...



energy-pedia Glossary

A list of commonly used terms in the oil and gas industry. Read more...

Subscribe

Subscribe to the FREE
energy-pedia Daily Newsletter
Subscribe

energy365
Government of South Australia
OPC
Telos NRG
Union Jack Oil 149
Rose & Assocs
Syntillica
Borchwix
Merlin
Bayphase
About energy-pedia

energy-pedia news is a FREE news service written and edited by E and P professionals for E and P professionals.

We don't just report the news, we give you the technical background as well, with additional information derived from our unique energy-pedia opportunities service.
Contact us

energy365 Ltd

238 High Street
London Colney
St Albans
UNITED KINGDOM

Tel: +44(0)1727 822675

Email: info@energy-pedia.com