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October 27, 2021

Freeport I Liquids Storage Terminal, Bahamas

By Carmen

Bahamas Oil Refining Company International operates the Freeport I liquids storage terminal, which is located in Freeport in Bahamas. This liquids storage terminal became operational in 1965 and is owned by Buckeye Partners.


The terminal, which is accessible by sea, primarily stores crude oil and petroleum products.

Key specifications of the storage terminal
Storage Capacity (bbl): 26,173,000
Tank Size Min (bbl): 15,000
Tank Size Max (bbl): 583,000
Number of Tanks: 80


About Bahamas Oil Refining Company International


Bahamas Oil Refining Company International Limited (BORCO) carries out business as Vopak Terminal Bahamas. It owns and operates oil storage, marine and fuel blending facilities. BORCO’s oil and petroleum products storage terminal is one of the largest international logistics hubs with attractive projects. The company’s storage facility is the world’s fourth largest marine terminal with a storage capacity of 21.6 million barrels. In January 2011, Buckeye Partners, L.P., a US based partnership, which owns and operates refined petroleum products pipeline systems completed the acquisition of 80% interest in FR Borco Coop Holdings, L.P. (FRBCH), which indirectly owns BORCO for $1.36m. Additionally, Vopak has excercised its rights to sell the remaning 20% interest in FRBCH. Following which, Buckeye Partners will own 100% interest in the company. In 1990, Petroleos de Venezuela, S.A. purchased the company was from Chevron. In 2008, First Reserve Corporation and Vopak acquired 80% and 20%, respectively, of BORCO for $571m. BORCO is headquartered in Freeport, Bahamas. In January 2011, Buckeye Partners acquired the remaining 20% interest in Bahamas Oil Refining.

Methodology

Information on the liquids storage terminal is sourced from GlobalData’s liquids storage terminal database that provides detailed information on all active and upcoming, liquids storage terminals globally. Not all companies mentioned in the article may be currently existing due to their merger or acquisition or business closure.

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