Vitol has partnered with Prostar’s GTI Statia (GTIS) storage terminal to operate the marine fuel, or bunker, supply business at GTIS’ crude oil and refined products terminal in the Caribbean, the companies said in a statement.
“This strategic relationship allows the facility to focus on being a world-class terminal operator and will leverage our strategic vision to enhance the service, quality and value of the facility and the bunker business,” John Roller, president and chief executive officer of GTI Statia, said in the statement on Tuesday.
GTIS will continue to provide storage, services and logistics infrastructure as before at the terminal, which is located on the island of St. Eustatius, the statement said.
GTIS, one of the largest independent crude and refined product storage terminals serving the U.S. Gulf Coast and Caribbean markets, was acquired by Prostar-owned Global Terminal Investments Ltd in July 2019.
It has 60 commercial tanks with a total storage capacity of 14 million barrels and extensive marine infrastructure that can accommodate berthing of the world’s largest oil tankers.
“This transaction builds on the $100 million capital investment plan for the terminal we announced in March and demonstrates our support and commitment to GTI Statia,” Steve Bickerton, senior managing director at Prostar, said in the statement.