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

Pieter Coetzee

Categorized in : Energy

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.

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.