Global commodities leader Trafigura has completed the acquisition of a 50 percent share in Meroil Tank S.L., a prominent refined oil products storage facility located in the port of Barcelona. The transaction, executed through a joint venture with Meroil S.A., follows approval from regulatory authorities and represents a strategic move for both companies. Financial details of the acquisition remain undisclosed.
Meroil Tank, now a 50:50 joint venture between Trafigura and Meroil, operates a critical storage infrastructure in Spain, boasting a capacity of 356,000 cubic meters. The terminal handles a range of refined oil products, including gasoil, gasoline, jet fuel, and biofuels. This facility plays a pivotal role in the logistics and distribution of fuels in the region, providing advanced storage solutions to current and future customers.
Jamie Torrance, Trafigura’s Global Head of Distillates, emphasized the significance of this acquisition, stating: “We are delighted to join forces with Meroil, a prominent logistics provider and wholesale fuel operator in Barcelona. The asset is integral for the import of refined products and biofuels in the region, offering advanced logistics and flexibility to our current and future customer base. We look forward to working with the Meroil team on the further development of the terminal’s logistics, while staying attentive to the market’s evolution towards low-carbon fuels.”
This joint venture underscores Trafigura’s commitment to expanding its oil and biofuels storage capacity in key European ports. The company aims to leverage the terminal’s strategic location and capacity to enhance its supply chain operations, ensuring it meets the growing demand for energy products while adapting to the ongoing transition toward low-carbon fuels.
Meroil’s Strategic Role in Spain’s Energy Sector
Meroil S.A., a well-established oil operator in Spain, has played a significant role in the liberalization of the country’s energy market. Founded in 1993, Meroil was the first independent operator in Spain, contributing to the demonopolization of the oil sector. The company initially focused its operations in Catalonia before expanding across Spain. Today, Meroil manages a network of service stations nationwide, supplying products to various industries, including shipping, commercial aviation, and the industrial sector.
Meroil’s coastal terminal in Barcelona is the largest of its kind in Spain for the storage of oil products and biofuels, with direct connections to the national pipeline system. This infrastructure enables efficient fuel distribution across Spain, ensuring a reliable supply of refined products to the country’s industries and transportation sectors.
In response to the evolving energy landscape, Meroil has made significant investments in renewable energy production, particularly in photovoltaic generation parks, positioning the company as a key player in the transition to more sustainable energy solutions.
José Luís Porté, President of Meroil, expressed his enthusiasm for the new partnership with Trafigura, stating: “We appreciate the opportunity to work with a world-leading company in the oil trading sector; this collaboration will significantly enhance the development of our business in Spain.” He highlighted that the joint venture would help Meroil expand its capabilities in both national and international markets, furthering the company’s mission to provide efficient logistics and distribution services for oil products and biofuels.
A Strategic Partnership for the Future
The joint venture between Trafigura and Meroil represents a significant development in the European energy storage and logistics sector. By combining Meroil’s expertise in fuel logistics with Trafigura’s global market reach and resources, the partnership is poised to strengthen both companies’ foothold in the refined products and biofuels markets. The Barcelona terminal will play a crucial role in ensuring the steady flow of energy products to Spain and beyond, supporting industries ranging from shipping and aviation to land transport.
Moreover, as the energy industry continues its shift towards cleaner, more sustainable fuels, the partnership will allow both companies to stay ahead of market trends. Trafigura, through its commitment to low-carbon energy solutions, and Meroil, with its renewable energy projects, are well-positioned to support the transition to biofuels and other environmentally friendly alternatives.
About Meroil
Founded in 1993, Meroil S.A. is one of Spain’s leading oil operators, with a strong presence in the wholesale and retail fuel markets. Meroil was instrumental in opening up Spain’s oil sector to competition, establishing itself as a key player in the industry. The company operates a nationwide network of service stations and supplies fuel to various industries, including maritime, aviation, and industrial sectors.
Meroil also operates Spain’s largest coastal terminal for the storage of refined oil products and biofuels. The terminal is connected to the national pipeline network, providing seamless logistics for the distribution of fuel across the country. In recent years, Meroil has also expanded into renewable energy production, investing in photovoltaic projects to generate clean energy.
About Trafigura
Trafigura is a leading global commodities trading company, founded over 30 years ago and owned by its employees. The company operates in over 156 countries and employs more than 12,000 people, including 1,400 shareholders. Trafigura’s core business involves trading oil and petroleum products, metals, minerals, gas, and power, connecting vital resources with global markets.
Trafigura is also actively involved in renewable energy initiatives, investing in projects such as H2Energy Europe and the Nala Renewables joint venture, which aim to accelerate the transition to a low-carbon economy. The company’s global logistics network and infrastructure, including fuel storage and distribution assets like Puma Energy and Impala Terminals, position Trafigura as a key player in global energy markets, ensuring efficient and sustainable supply chains for critical resources.
This joint venture with Meroil marks another step forward in Trafigura’s commitment to supporting the growth of sustainable energy solutions and securing vital infrastructure in key regions like Barcelona.
Source Trafigura