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Argus Media: Montfort acquires oil product storage in Mozambique

14 Sep 2021

Elshan Aliyev of global energy and commodity price reporting agency Argus Media on Friday (10 September) reported on a business expansion by Montfort.

Global commodity trading company Montfort has acquired a 58, 000 m³ oil product storage facility in the port of Matola in Mozambique.

Montfort bought the storage from Matola Terminal de Armazenamento de Petróleos, a company that owns and operates an oil tanking storage facility at the port. 

Montfort plans to operate and develop the clean products storage in close partnership with Malaysia-based trading firm Energi Asia.

The acquisition is in line with Montfort’s expansion plans in Africa, and follows its recent purchase of a majority stake of Kenyan oil marketing company Kencor Petroleum.

Montfort’s bunkering arm recently started deliveries of marine fuels at Fujairah in the UAE, the world’s third-largest bunkering hub.

 

Photo credit and source: Argus Media
Published: 14 September, 2021

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