ArcLight finishes acquisition of HFOTCO from Motiva
Oct 22, 2009 11:32 AM
ArcLight Capital Partners LLC has closed on the acquisition of the remaining 50% membership interest in Houston Fuel Oil Terminal Company LLC (HFOTCO) from Motiva Enterprises LLC. ArcLight acquired its initial 50% interest in HFOTCO in October 2007 from Chartco LLC.
HFOTCO is the US Gulf Coast’s largest black oil facility with 11 million barrels of tankage in operation and another two million barrels currently under construction. Since 1979, HFOTCO has been storing, blending, and moving residual oil for carbon black manufacturers, refineries, bunker suppliers, and oil traders. Starting in 1992, HFOTCO began storing and delivering crude oil and feedstock to area refineries.
One of the world’s leading energy investment firms with more than $6.8 billion under management, ArcLight is headquartered in Boston MA with offices in New York City, London, and Luxembourg.
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