Storage acquisition by Sinopec and Mercuria ratified by EC
12 March 2013
The acquisition of Dutch petroleum products and biodiesel storage firm Vesta Terminal by Chinese oil company Sinopec and Swiss-based energy trading house Mercuria Energy Group has been cleared.
The European Commission, which acts as competition regulator for the continent, has ruled the deal did not raise any concerns because the volume of products stored at Vesta’s facilities is ‘very low’ when compared to traded volumes.
The deal gives Sinopec a position in northwest Europe’s vital Amsterdam-Rotterdam-Antwerp trading hub.
Vesta has storage operations at terminals in Belgium, the Netherlands and Estonia.
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