Houston based Zenith Energy today announced that it has acquired the Bantry Bay Oil Terminal in West Cork, Ireland, from Phillips 66.
The terminal, located on Whiddy Island in Bantry Bay, has a storage capacity of over eight million bbl. Zenith intends to continue operating the terminal on a commercial basis.
Jeffrey R. Armstrong, CEO of Zenith, commented, "We are pleased to have acquired the Bantry Bay Terminal, which serves as a critical commercial link in northwest Europe for crude and refined products. The terminal's attractive deepwater location on Bantry Bay enables our customers to take advantage of many trade opportunities, and the terminal will remain an important part of Ireland's strategic petroleum reserve."
Barry O'Driscoll, Manager of Bantry Bay Terminal, commented, "We are excited to join Zenith and to be among its first significant terminal investments. Our facility has a long history of success in Europe and we look forward to building upon it in the years to come."
As previously announced at the time of its formation, Zenith is currently pursuing opportunities to buy, build and operate petroleum liquids and petrochemical terminals and related logistics including distribution assets that support terminals, such as pipelines, truck racks and barges, primarily in Latin America, Europe and Africa.
Image from Zenith Energy