Shell completed the sale last week of an oil products storage facility in the Jebal Ali Free Zone area of Dubai, United Arab Emirates. Used to store lubricants and bitumen, the facility was purchased by Tristar Group, an energy logistics firm, but will continue to supply Shell products.
The price of the deal was not disclosed, but ownership transferred to Tristar on July 1.
“While this agreement enables us to focus on our core operations and products, it also allows us to continue to provide our customers high quality bitumen and lubricants products and services,” Azmat Jafri, Shell’s general manager of customer operations in Asia-Pacific and China, said in a press release.
“This strategic asset transition allows us to expand our presence in Jafza and our capacity to better service our customers, offering them a fully integrated distribution service, which is now able to provide storage and distribution of bulk bitumen and lubricants,” Tristar Group CEO Eugene Mayne said in a press release.
Tristar is a fully integrated energy logistics business serving the downstream oil and gas industry. Its services include lubricant storage and distribution, as well as retail sales fuels and lubricants. The company does business in 21 countries across the Middle East, Africa, Asia, the Pacific and the Americas.
Jebel Ali Free Zone, together with Jebel Ali Port forms DP World, a trade and logistics hub for the region’s chemicals industry.