Oiltanking has completed the divestment of its 37 percent stake in Oiltanking MOGS Saldanha to Aquarius Energy, concluding a major portfolio transformation programme launched in November 2021. The transaction, initially announced on December 18, 2024, officially closed on July 30, 2025.
Aquarius Energy, the acquiring company, is backed by Tristar and Glencore and operates as a globally recognised terminal operator. The acquisition positions Aquarius Energy to take a leading role in the South African terminal’s future development and operations.
Photo: © Oiltanking GmbH
Bas Verkooijen, CEO of Oiltanking, expressed appreciation for the collaborative relationship throughout the divestment process. “I would like to thank the team at Oiltanking MOGS Saldanha for their good cooperation over the past years, and for their strong support and continued commitment throughout the divestment process,” Verkooijen stated.
The CEO also expressed confidence in the new ownership structure and Aquarius Energy’s capabilities. “I’m confident that Aquarius Energy, with its extensive experience and global footprint, is well positioned to lead OTMS into its next phase of development,” he added.
The completion of this divestment marks the successful conclusion of Oiltanking’s comprehensive portfolio transformation programme. As part of this strategic restructuring, the company created Advario and OTAMERICA to concentrate on global and regional tank storage services. All terminals outside these two focused entities have now been divested, completing the portfolio rationalisation initiative.
The transformation programme represents Oiltanking’s strategic shift toward a more focused operational structure, concentrating resources on core markets and services while divesting non-core assets to specialised operators better positioned to develop those facilities.
