08.03.2013 • Newsoil tradingoil storageLogistics

EU Regulators Approve Sinopec's European Storage Deal

EU competition regulators have cleared the acquisition of Dutch petroleum products and biodiesel storage firm Vesta Terminal by Chinese oil major Sinopec and Swiss-based energy trading house Mercuria Energy Group.

The European Commission, which acts as competition regulator in the 27-country European Union, said on Friday the deal did not raise competition concerns "as the volume of petroleum products stored at Vesta's facilities is very low when compared to the traded volumes".

Vesta has storage operations at terminals in the Belgian port of Antwerp, Flushing/Vlissingen in the Netherlands and in Muuga, Estonia.

The deal will give state-owned Sinopec a foothold in northwest Europe's vital Amsterdam-Rotterdam-Antwerp (ARA)trading hub, where physical movements of oil products contribute to futures prices.

Sinopec and its trading unit, Unipec, will use the Vesta tanks to optimize trade in gasoil (heating oil and diesel) and gasoline.

 

Interview

Specialty Chemicals in a Shifting World
Adapting to Tariffs and Strengthening Regional Networks

Specialty Chemicals in a Shifting World

Jennifer Abril, President & CEO of SOCMA, discusses the impact of new tariffs and the importance of regional supply networks in the specialty chemical industry.

Free Virtual Event

Vaccine Manufacturing
Bioprocess Forum

Vaccine Manufacturing

Join global experts and innovators for a two-day virtual event exploring the latest breakthroughs and best practices in vaccine manufacturing. Discover how new technologies and process innovations are shaping the future of vaccine production, safety, and scalability.

most read

Photo
13.03.2025 • News

Roche and Zealand Pharma Collaborate on Weight Management Drug

Swiss pharma heavyweight Roche announced has entered into an exclusive collaboration and licensing agreement with Denmark’s Zealand Pharma. Under the terms of this agreement, the two companies will collaborate to co-develop and co-commercialize petrelintide, Zealand Pharma’s amylin analog as a standalone therapy as well as a fixed-dose combination with Roche’s lead incretin asset CT-388.

Photo
22.04.2025 • News

BASF Divests Two Joint Ventures in China

BASF has divested its shares in the joint venture companies, BASF Markor Chemical Manufacturing (Xinjiang) Co., Ltd. and Markor Meiou Chemical (Xinjiang) Co., Ltd. in Korla, China, to Verde Chemical Singapore Pte. Ltd.

Photo
19.03.2025 • News

Arkema Launches Acrylic Acid Purification Project

Arkema has announced the launch of its Carat Project at its Carling site in France. This initiative aims to enhance the capabilities and sustainability of the facility, which specializes in producing acrylic monomers and superabsorbent polymers.