BB Energy, one of the world’s leading independent energy trading companies downstream division has completed its investment in Pakistan-based trading company Euro Oil.
“The investment provides Euro Oil with growth capital in order to deliver on its growth strategy of rolling out over 375 retail stations and building in excess of 50,000 tons of storage capacity throughout Pakistan,” BB Energy says in a statement.
Investment in Euro Oil is part of “the BB Energy Group’s long-term strategy to invest in energy infrastructure around the world,” said Khaled Bassatne, managing director of BB Energy Gulf DMCC, quoted Bloomberg “in order to complement our trading activities and supply quality petroleum products to the Pakistan downstream oil market.”
Euro Oil, is operating in Pakistan, having 7,000 tons storage capacity for retail and wholesale oil products and services throughout the country.
Whereas, BB Energy has experience in oil trading, operations, chartering, logistics, storage, refining and financing. Trading more than 20 million metric tonnes (MT) of crude and products annually, BB Energy is one of the most active gas oil, gasoline, bitumen and fuel oil traders in the Mediterranean.