Vivo Energy Converting Durban Refinery Into Fuel Storage Hub

Vitol Group’s Vivo Energy is building fuel tanks at a former Durban refinery site to become a leading South African storage hub, buffering the import-dependent nation from oil market shocks.Author of the article:You can save this article by registering for free here. Or sign-in if you have an account.(Bloomberg) — Vitol Group’s Vivo Energy is building fuel tanks at a former Durban refinery site to become a leading South African storage hub, buffering the import-dependent nation from oil market shocks.Subscribe now to read the latest news in your city and across Canada.Subscribe now to read the latest news in your city and across Canada.Create an account or sign in to continue with your reading experience.Create an account or sign in to continue with your reading experience.Construction of the $130-million project will result in 300,000 cubic meters of capacity and is set to be completed in the third quarter of 2027, according to George Roberts, an executive vice president at the firm. It will add to the 200,000 cubic meters of capacity being refurbished at the nearby Island View facility.About half of South Africa’s refining capacity has shut in recent years, including the 120,000 barrel-a-day Engen plant in Durban, which was converted into a terminal in 2021 after a prolonged period of losses and a fire. The cutoff in supply caused by the Iran war has highlighted the country’s growing dependence on fuel imports.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.“Having infrastructure in the long term is what enables you to kind of be a lot more resilient to supply shocks or changes in market positions — we saw it with COVID, we saw it with the Russia-Ukraine war,” Roberts, who is also the chief executive officer of Vivo’s Engen retail business, said in an interview on the sidelines of a Cape Town conference.Vivo has made other investments to the Durban facility to improve the transfer of fuel and truck loading. It’s also in talks with the government about the possibility of building — with a consortium that includes Vitol, ACWA Power and VTTI — a 1.8-gigawatt gas-to-power plant at the site, though the location needs to be added to a state master plan, according to Roberts. Postmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information.365 Bloor Street East, Toronto, Ontario, M4W 3L4© 2026 Financial Post, a division of Postmedia Network Inc. All rights reserved. Unauthorized distribution, transmission or republication strictly prohibited.This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.You can manage saved articles in your account.and save up to 100 articles!You can manage your saved articles in your account and clicking the X located at the bottom right of the article.