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Omega completes acquisition of Oiltanking Joliet chemicals terminal

August 05/2020

MOSCOW (MRC) -- Oiltanking North America (ONA; Houston), a wholly owned subsidiary of Oiltanking (Hamburg, Germany), says it has completed the sale of its Joliet chemical terminal at Channahon, Illinois, to bulk liquid terminals operator Omega Partners Illinois, said Chemweek.

An initial agreement for the sale was announced in June. Following completion of customary preparatory steps, the transaction was completed with effect from 31 July, it says. Omega Partners (St. Louis, Missouri) owns and operates bulk liquid petroleum terminals in Illinois, Florida, Georgia, South Carolina, Nevada, and Kentucky. The value of the transaction has not been disclosed.

The Joliet terminal is dedicated primarily to the storage of specialty chemicals and has a capacity of approximately 44,600 cubic meters. Oiltanking acquired the facility from Dow Chemical in 2009.

As MRC reported earlier, Dow Chemical restarted three polyethylene (PE) plants it shut in April on improving demand after widespread economic shocks in April and May, confirmed a company spokeswoman July 23.

According to MRC's DataScope report, PE imports to Russia dropped in January-June 2020 by 7% year on year to 328,000 tonnes. High density polyethylene (HDPE) accounted for the main decrease in imports.

The Dow Chemical Company is an American multinational chemical corporation headquartered in Midland, Michigan, United States. Dow is a large producer of plastics, including polystyrene (PS), polyurethane, polyethylene, polypropylene, and synthetic rubber.
Author:Anna Larionova
Tags:petroleum products, crude oil, PP, PE, petrochemistry, Dow.
Category:General News
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