Total Explores Partnership for Port Arthur Refinery Logistics Assets

Maritime Activity Reports, Inc.

June 16, 2016

French oil and gas company Total said on Thursday that it was exploring a partnership deal for the logistics part of its 225,000 barrels-per-day Port Arthur refinery in the United States and had been in talks in the last year with potential investors.
Reuters reported on Wednesday that Total had decided not to sell a 50 percent stake in the refinery almost a year after it retained investment bank Lazard to advise on the deal.
"In the last year we have been in discussions with potential investors to create a JV partnership for the Port Arthur Refinery," a spokesman for the company told Reuters.
"During this time it has become clear that investors would be very interested in participating in a JV involving the logistics assets of the refinery. So we have adjusted our strategy and we are thus exploring a partnership for these assets," the spokesman said.
(Reporting by Bate Felix)
Maritime Reporter Magazine Cover Feb 2019 - Ferry Builders

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News