7th October 2020
(Bloomberg) -- BB Energy’s downstream division has completed its investment in Pakistan-based Euro Oil
By Helen Robertson
(Bloomberg) -- BB Energy’s downstream division has completed its investment in Pakistan-based Euro Oil, the trading co. says Monday in a statement.
NOTE: No financial details of the investment were disclosed
Euro Oil has ~7k tons storage capacity for retail and wholesale oil products and services throughout Pakistan
“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 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, “in order to complement our trading activities and supply quality petroleum products to the Pakistan downstream oil market”
NOTE: BB Energy has trading hubs in the UAE, the U.K., the US, and Singapore
To contact the reporter on this story:
Helen Robertson in London at email@example.com
To contact the editors responsible for this story:
James Herron at firstname.lastname@example.org
Bruce Stanley, Helen Robertson
To view this story in Bloomberg click here:
T: +971 4 432 8300