Crude Oil Carriers Market Growth Prospects, Key Vendors, Future Scenario Forecast to 2026
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UPDATE 1-Gulf Oil inks agreement to buy Ocean Tankers lubricants plant in Singapore
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Gulf Oil inks agreement to buy Ocean Tankers’ lubricants plant in Singapore
Gulf Oil International Ltd, part of the Hinduja group, said it has reached an agreement to acquire the lubricant blending plant and associated facilities from Singapore’s Ocean Tankers Pte Ltd.
Ocean Tankers is one of a few companies owned by Singapore oil tycoon Oon Kuin Lim and his family that have been put under the management of court-appointed supervisors after the firms racked up billions of dollars of debt.
The facilities located at Singapore’s Tuas include wharf access, a storage tank farm and terminal facility, Gulf Oil said in a statement on its website dated Dec. 8. The company did not provide an investment figure.