Vopak looks to gas
Vopak will continue with its oil business but it sees growth in LNG and chemicals
Dutch tank storage firm Vopak further expanded its LNG portfolio in September with the purchase of a 49pc stake in the Cartagena regasification terminal in Colombia. While its traditional oil business is not going away, it is increasingly looking at other markets such as LNG, as well as chemicals, to drive growth. The firm’s CEO Eelco Hoekstra spoke to Petroleum Economist to outline the subtle shift in strategy. How has your business been evolving? Hoekstra: Over the last five years or so, we have divested more than 20 terminals and redeployed that cash into new business lines, basically to change the geography and type in which we invest—predominately more in gas and industrial and chemi
Also in this section
5 March 2025
The oil alliance’s decision to keep to the plan amid tightening economic fundamentals seems to have been lost in the global geopolitical maelstrom, misplaced market speculation and haze of conjecture
5 March 2025
Petronas is making huge efforts to arrest falling oil production and accelerate gas increases to meet rising demand, but political tensions persist
5 March 2025
Plans to boost capacity have seen little progress as the country lags behind other major oil consumers and importers
4 March 2025
The US and Canada are boosting capacity builds for renewable diesel and biofuels, while Central and South American countries are investing heavily to upgrade and expand their domestic refining sectors
