Kinder Morgan, Zenith Energy by BP terminals

Kinder Morgan Inc. closed an acquisition of 15 products terminals in North America from BP as Zenith Energy signed an agreement to buy the oil company’s products terminal in Amsterdam.

The Kinder Morgan transaction is valued at about $350 million and covers storage capacity totaling 9.5 million bbl and associated infrastructure.

Kinder Morgan will operate 14 of the acquired terminals owned by a joint venture it has formed with BP Products North America. Kinder Morgan owns 75% of the JV. The BP unit owns the balance.

Kinder Morgan owns all of the 15th terminal.

Zenith, Houston, expects to take ownership of the Amsterdam terminal by the end of the first quarter. Storage capacity there exceeds 6 million bbl of gasoline, ethanol, middle distillates, biodiesel, kerosine, and LPG.

Terms of the Zenith acquisition weren’t disclosed.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...