Our model is based on blending of different grades of crude to supply a specific recipe to a refinery, we saw, in terms of environmental legislation worldwide to produce clean fuels, that there is a need for refiners to blend different grades of crude to get that specific clean fuel on the other side.

Pieter Coetzee

Categorized in : Energy

Obviously, blending happens within the refineries, they will blend on a small scale before it gets fed into the refinery, but this is no longer feasible. They need the right recipe coming into the refinery.

We've got 10 of the 12 tanks committed for long-term contracts and the off-takers include the oil majors and oil traders.