Petroleum Products Storage: Increasing Investments

8 years, 9 months ago - September 16, 2013
Investments oil companies are increasing day by day in order to increase the capacity of fuel storage. This increase also aims to reduce the risk of shortages, ensure a steady supply and meet the growing consumption.

About Rs 900 million. This is the total amount of investments in oil companies. The goal: to increase the capacity of gas storage, gas oil and heavy oil, among others. Investment driven by the liberalization of the supply boat fuel. Also, to avoid shortages, ensure a steady supply and deal with increasing consumption. 

Bhunjun the group, for example, plans to invest Rs 400 million in the construction of a terminal, the Beta Oil Terminal . Objective: To refuel ships heavy oil and diesel. For its part, Indian Oil Mauritius Ltd (IOML) built at a cost of Rs 80 million cells of a further storage capacity 5000 tonnes for Jet A1 (aviation fuel). The work, which just started, will be completed in February 2014.

On the joint project of Engen, Vivo Energy, Total and Indian Oil, an international tender to hire a consultant to do the design of the device was launched. The start of construction is scheduled for early 2014. Discussions are underway with the Mauritius Ports Authority to finalize the allocation of land for the project. "The four oil companies contribute about 25% each for the investment project of about Rs 450 million, for a capacity of 15,000 tons of fuel storage," says Kuran Juwaheer, Managing Director of Vivo Energy . "A joint venture called Mauritius Oil Storage Terminal will be created to manage the installation," he adds.

Pending the implementation of the joint project of four operators, the IOML account arrange for additional storage of gasoline - which is growing at 5.5% per year - in order to avoid any shortage of this product. CNPC Tafo Blue Ocean Co Ltd, following a partnership between Mauritian and Chinese companies, has strengthened its presence in Port-Louis in the area of ??bunkering ships. His second tanker, Tafo Louis after Louis 1, is already in service.

"We are waiting to see what the government will and meanwhile we are positioning ourselves to be present in the hub. Our project supports the government's strategy to make Port Louis a hub Petroleum. It is somewhat surprising that there has been a slowdown in the bunkering this year, "says Hsiao Foong Yeung, director of the company.

 

Text by lexpress.mu

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