World
Institutional
links
Welcome back on
26 -29 August,
ONS 2008
Bridging
the energy gap
is ONS 2006 theme,
from 22-25 August,
in Stavanger, Norway
Petroleumworld
Business
Partners:
Centre for
Global Energy
Studies
  |
Private equity firm to buy PDVSA's Bahamas oil terminal for $900 million
CARACAS
Petroleumworld.com, Feb 18, 2008First Reserve Corp., a private equity firm, will finally purchase a storage terminal from PDVSA for $900 million, PDVSA said in a statement
First Reserve will buy the 20 million barrels storage capacity Borco Oil Refining Co., and its oil terminal in Freeport, Bahamas.
PDVSA first confirmed its intention to sell the terminal known as Borco in late November. At the time, PdVSA had received an $800 million bid for the facilities.
The acquisition of the terminal will be financed in part by a credit facility fully underwritten by ABN Amro.
Story from Petroleumworld
Petroleumworld - 15 February 2008Copyright© 2007 Petroleumworld. All rights reserved.
Your feedback is important to us!
We invite all our readers to share with us
their views and comments about this article.Write to editor@petroleumworld.com
Any question or suggestions, please write to:
editor@petroleumworld.com
Best Viewed with IE 5.01+
Windows NT 4.0, '95, '98 and ME +/ 800x600 pixels