BP and IEnova have announced the execution of a new long-term contract for BP to use the refined product receipt, storage, and delivery terminals that IEnova is developing in the cities of Manzanillo, Colima and Guadalajara, Jalisco.
Due to this commercial agreement, BP will be able to store more than 1 million bbl in these terminals to supply over 150 BP service stations located in the western region of the country.
In the Manzanillo terminal, BP will have 740 000 bbl of storage, which represents 50% of the terminal’s capacity. In the Guadalajara terminal, the agreement will allow up to 290 000 bbl of gasoline and diesel storage.
Last September, BP announced that it will utilise 50% of the storage capacity of IEnova’s Baja Refinados terminal in Ensenada, Baja California, which is currently under development.
This new agreement to use the Manzanillo and Guadalajara terminals will allow BP to enhance its supply options, improve logistics, and increase fuel delivery reliability, which will contribute to energy security in Mexico’s central-western region.
Subject to executing certain agreements, BP will have the option to acquire between 20% and 25% of the equity in these projects once they reach commercial operations.
Read the article online at: https://www.tanksterminals.com/terminals/07062019/bp-and-ienova-sign-a-new-contract-for-the-use-of-two-gasoline-and-diesel-terminals/