A Journey Through Time: Milestones of Success

August 2014

Oiltanking Sells Tank Terminal in Merak

In August 2014, Oiltanking sells all of its shares in PT Oiltanking Merak to local companies. The reasons for the step include ongoing governmental price regulation, which has resulted in a lack of imports by independent trading companies. This and other market developments make it impossible for Oiltanking to profitably operate the terminal in Merak.