Houston-based fuel blending and manufacturing firm SGR Energy, Inc has agreed to acquire an oil storage facility Swiss Terminal Barranquilla in Atlántico Department, Colombia from Fondo De Infraestructura Colombia Ashmore I – FCP, the subsidiary of investment manager Ashmore Management Company.
The company intends “to process crude oil and blend fuel oil with up to 7 million barrels of petroleum products transferred or processed though the facility a year”, it says.
Features of the 2.94-acre terminal includes a warehouse, lab and office which will provide 50,000 barrels per day of product unloading capacity, 20,000 barrels per day of product loading capacity along with 13 lane truck racks.
Further, SGR Energy is planning to offer 210,000 barrels for third party merchant storage, allowing for the acceptance of crude oil and naphtha, with 13 multipurpose temperature-controlled tanks offering the ability to extract crude and clean products.
“We are delighted to acquire from Ashmore Management Company this premier marine transportation and terminal in Colombia,” said SGR Energy Chief Executive Officer Tommy San Miguel.
“Swiss Terminal Barranquilla gives SGR Energy a strategic artery to supply from Colombia, increasing our delivery volume to established customers, and will allow us to develop additional business.”
SGR Energy has developed a platform for cost-effectively incorporating renewable and clean burning additives into a 1.00% Sulphur #6 fuel oil product ready for commercial and industrial burning, its website claims.
Its proprietary fuel blending method allows for incorporating renewable components and cleaner burning additives with blendstocks to improve the quality, extend the volume and produce a cleaner burning fuel.
SGR’s finished utility spec #6 Fuel Oil will meet or exceed the specifications of our competitors and can be delivered to the customer at a much lower cost.
Since the process is not feedstock specific, it allows for versatility and can utilize inputs derived by various supplier’s. It can also be modified based off of availability of input and price, and has no styrene or butylene incorporated in its fuel.
Photo credit: SGR Energy
Published: 18 July, 2018
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