Prumo Logística S.A. Achieves Significant Milestones at Açu Port in Brazil
Prumo Logística’s subsidiary Açu Petróleo S.A., the first private oil transshipment terminal in Brazil, reached two significant milestones in May 2018. The company successfully performed its first Very Large Crude Carrier (“VLCC”) transfer (a video of the operation can be found here (https://www.youtube.com/watch?v=7FXxevhXLIk )) and achieved a second disbursement on its $350 million, 18-year loan from the Overseas Private Investment Corporation (“OPIC”) arranged by Delphos International, its financial advisor.
The loan, which is the second largest OPIC financing in Latin America to date, is supporting the improvement and expansion of the terminal. Açu Petróleo is majority-owned by leading oil and gas private equity firm EIG Global Partners, which has invested more than $25 billion in capital globally. The terminal, operated and partially-owned by Oiltanking GmBH, provides a protected area for transshipment, reducing the risk of oil spills that can occur during open water ship-to-ship oil transfers. The $500 million terminal began operations in October 2016.
