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Oiltanking completes sale of 37 percent stake in OTMS Terminal, South Africa
Oiltanking has completed the divestment of its 37 percent stake in Oiltanking MOGS Saldanha (OTMS) to Aquarius Energy. Backed by Tristar and Glencore, Aquarius Energy is a globally recognized terminal operator. The transaction was announced on December 18, 2024, and closed on July 30, 2025.
Bas Verkooijen, CEO of Oiltanking, said: “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. 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.”
The divestment brings the Oiltanking’s portfolio transformation program, launched in November 2021, to a successful close. As part of this transformation, Advario and OTAMERICA were created to focus on global and regional tank storage services. All other terminals outside these two companies have now been divested.
Oiltanking GmbH