Latest news with #RoyalVopak
Reuters
6 days ago
- Business
- Reuters
Canada's propane exports soar 9.2% in 2024 as gas output grew
CALGARY, June 4 (Reuters) - Canadian exports of propane and butane grew significantly in 2024 as natural gas production increased in the country, according to new data from the Canada Energy Regulator on Wednesday. The data for 2024 showed Canadian propane exports averaged 218,300 barrels per day (bpd), a 9.2% increase from the previous year, while butane exports surged 15% to an average of 56,100 bpd. The strong growth was due to an overall rise in natural gas output from Canada last year, which led to greater production volumes of natural gas liquids such as propane and butane, the regulator said. Canada currently has two marine propane export terminals located on the west coast of British Columbia. Two additional export terminals are under development — the Ridley Island Energy Export Facility, a joint project by Calgary-based AltaGas ( opens new tab and Dutch multinational Royal Vopak — and Trigon Pacific LPG, led by Trigon Pacific Terminals. These new terminals are expected to boost Canada's access to Asian markets due to their proximity compared to U.S. Gulf Coast facilities. Canada is the second-largest supplier of propane to Japan and South Korea, after the U.S. In 2024, all of Canada's butane exports went to the United States.
Time of India
02-06-2025
- Business
- Time of India
Aegis Vopak Terminals IPO listing today: All eyes on debut as GMP signals muted interest
Aegis Vopak Terminals is set to make its stock market debut on June 2 after closing its Rs 2,800 crore IPO with moderate interest from investors. The issue was subscribed 2.09 times overall, with stronger demand from qualified institutional buyers (QIBs), but relatively softer participation from retail and high-net-worth investors. The listing will take place on both the NSE and BSE. Ahead of its debut, the grey market premium (GMP) for Aegis Vopak Terminals stands at Rs -1, indicating a potential listing around Rs 234 — just below the IPO's upper price band of Rs 235. This suggests a muted to flat listing is likely, despite the company's strong position in India's port-based storage infrastructure segment. The IPO, which was entirely a fresh issue of 11.91 crore shares, received bids for 14.43 crore shares against 6.90 crore shares on offer. The QIB portion was subscribed 4.34 times, while the NII and retail segments were subscribed just 0.32 and 0.70 times, respectively. The low enthusiasm from non-institutional investors is being closely watched, especially in light of the tepid GMP. Aegis Vopak Terminals is a joint venture between Aegis Logistics and Royal Vopak of the Netherlands. The company operates LPG and liquid storage terminals across five key ports in India—Haldia, Kochi, Mangalore, Pipavav, and Kandla—with a combined capacity of 1.50 million cubic meters for liquids and 70,800 MT for LPG. It plays a critical role in India's energy logistics chain, handling products like petroleum, chemicals, edible oils, and industrial gases. In terms of financials, the company reported a net profit of Rs 85.89 crore for the nine months ending December 2024, on revenue of Rs 476.15 crore. Its return on equity stood at 8.68% and PAT margin at 15.18%, indicating healthy operational efficiency. IPO proceeds are earmarked for debt repayment and funding the acquisition of a cryogenic LPG terminal in Mangalore, alongside general corporate use. While the fundamentals of the business remain sound and long-term prospects appear promising, the near-zero GMP reflects cautious short-term sentiment. Investors will be watching closely for whether the stock can hold its issue price and build momentum post-listing. ( Disclaimer : Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of Economic Times)
Zawya
17-04-2025
- Business
- Zawya
OQ accelerates Oman–Netherlands collaboration to catalyse global energy transformation
Muscat: OQ, a global investment energy group, joined His Majesty Sultan Haitham bin Tarik on His state visit to the Netherlands, celebrating 400 years of maritime relations between the two countries, at the invitation of King Willem-Alexander. During this historic visit, OQ joined ten major industry players to advance bilateral cooperation in energy, technology, and sustainable industrial growth. As Oman and the Netherlands deepen their partnership at a pivotal moment for the global energy transition, OQ steps forward as a powerful enabler, building strategic alliances that turn shared ambition into tangible action. From green hydrogen to next-generation industrial infrastructure, OQ is reinforcing its role as a bridge between regions, a magnet for investment, and a catalyst for a cleaner, more connected future. 'At OQ, we believe progress is powered by partnerships,' said Ashraf Hamed Al Mamari, Group CEO of OQ. 'This collaboration with the Netherlands is more than diplomacy, it's a shared blueprint for economic diversification, green industrialisation, and future energy resilience. We're not only building infrastructure; we're building opportunity, linking Oman's geography and talent with Europe's energy needs and climate ambitions.' Backed by its integrated portfolio and strategic role as a state-owned enterprise, OQ is forging partnerships that strengthen global supply chains, accelerate technology transfer, and enable both nations to co-create solutions aligned with the EU's Fit for 55 strategy and Oman Vision 2040. As the first steps in this new chapter of strategic collaboration, OQ signed two significant Memoranda of Understanding (MoUs) that signal intent, capability, and momentum. The first, with Royal Vopak, reinforces OQ's commitment to developing Duqm into a world-class industrial and storage hub. The second agreement, signed in collaboration with Hydrom, the Port of Duqm, and leading European partners, sets the stage for the world's first commercial liquid hydrogen corridor. The project, which will connect the Port of Duqm with the ports of Amsterdam and Duisburg, is poised to become a transformative milestone for global green hydrogen flows. These developments underscore OQ's strategic role in positioning Oman as a global energy connector, linking resource-rich regions with clean energy demand centres across Europe and Asia. Through its leadership, Duqm is evolving into a next-generation industrial ecosystem powered by clean fuels, technology transfer, and international collaboration. Guided by ESG principles and a long-term vision for productive energy, OQ's partnerships go beyond infrastructure. They enable knowledge exchange, foster innovation, and deliver sustainable value. As Oman and the Netherlands deepen their historic cooperation, OQ stands at the forefront, connecting continents and shaping the energy systems of tomorrow. © Muscat Media Group Provided by SyndiGate Media Inc. (
Times of Oman
16-04-2025
- Business
- Times of Oman
OQ accelerates Oman–Netherlands collaboration to catalyse global energy transformation
Muscat: OQ, a global investment energy group, joined His Majesty Sultan Haitham bin Tarik on His state visit to the Netherlands, celebrating 400 years of maritime relations between the two countries, at the invitation of King Willem-Alexander. During this historic visit, OQ joined ten major industry players to advance bilateral cooperation in energy, technology, and sustainable industrial growth. As Oman and the Netherlands deepen their partnership at a pivotal moment for the global energy transition, OQ steps forward as a powerful enabler, building strategic alliances that turn shared ambition into tangible action. From green hydrogen to next-generation industrial infrastructure, OQ is reinforcing its role as a bridge between regions, a magnet for investment, and a catalyst for a cleaner, more connected future. 'At OQ, we believe progress is powered by partnerships,' said Ashraf Hamed Al Mamari, Group CEO of OQ. 'This collaboration with the Netherlands is more than diplomacy, it's a shared blueprint for economic diversification, green industrialisation, and future energy resilience. We're not only building infrastructure; we're building opportunity, linking Oman's geography and talent with Europe's energy needs and climate ambitions.' Backed by its integrated portfolio and strategic role as a state-owned enterprise, OQ is forging partnerships that strengthen global supply chains, accelerate technology transfer, and enable both nations to co-create solutions aligned with the EU's Fit for 55 strategy and Oman Vision 2040. As the first steps in this new chapter of strategic collaboration, OQ signed two significant Memoranda of Understanding (MoUs) that signal intent, capability, and momentum. The first, with Royal Vopak, reinforces OQ's commitment to developing Duqm into a world-class industrial and storage hub. The second agreement, signed in collaboration with Hydrom, the Port of Duqm, and leading European partners, sets the stage for the world's first commercial liquid hydrogen corridor. The project, which will connect the Port of Duqm with the ports of Amsterdam and Duisburg, is poised to become a transformative milestone for global green hydrogen flows. These developments underscore OQ's strategic role in positioning Oman as a global energy connector, linking resource-rich regions with clean energy demand centres across Europe and Asia. Through its leadership, Duqm is evolving into a next-generation industrial ecosystem powered by clean fuels, technology transfer, and international collaboration. Guided by ESG principles and a long-term vision for productive energy, OQ's partnerships go beyond infrastructure. They enable knowledge exchange, foster innovation, and deliver sustainable value. As Oman and the Netherlands deepen their historic cooperation, OQ stands at the forefront, connecting continents and shaping the energy systems of tomorrow.
Trade Arabia
16-04-2025
- Business
- Trade Arabia
OQ, Royal Vopak partner to develop Duqm as integrated industrial hub
OQ, spearheading the development of Duqm in Oman as a premier integrated hub for hydrocarbons, chemicals, and low-carbon products, and Royal Vopak have entered into an exclusive partnership framework agreement in the Special Economic Zone at Duqm (SEZAD). This is a significant step for a strategic alliance that aims to unlock future growth opportunities in industrial and energy terminal infrastructure and sustainable energy transition facilities in SEZAD. Leveraging Vopak's proven expertise to develop and operate large-scale infrastructure projects, this partnership holds high prospects to drive economic growth, attract international customers, create new employment opportunities, and effectively serve all new projects requiring storage solutions in Duqm. Highlighting the significant impact of this partnership, Ashraf Al Mamari, Group CEO of OQ, said: 'This partnership is a catalyst for Duqm's emergence as a globally competitive energy hub. By aligning with Vopak's international expertise, we are unlocking a new era of strategic infrastructure investment that strengthens Oman's position in global energy flows, accelerates the energy transition, and delivers long-term value for our economy and future generations.' Dick Richelle, CEO of Royal Vopak, welcomed this partnership, saying: 'Vopak is excited to collaborate with OQ Group on this strategic partnership in Duqm. Our combined strengths in infrastructure development will be instrumental in creating a leading energy and chemical hub serving multiple industrial customers concurrently. We are excited to support Oman's Vision 2040.'
