Μontfort Group commodity trading and investment firm and the Private Office of Sheikh Ahmed Dalmook Al Maktoum completed the acquisition of Uniper’s United Arab Emirates-based crude oil processing and marine fuel trading business (Uniper Energy DMCC). No price was revealed.
Uniper Energy DMCC is the market leader in the production and supply of IMO 2020 compliant low-sulphur fuel oils to the Fujairah market, one of the largest and most rapidly growing bunker fuel markets in the world.
The business will be named Fort Energy Refining Middle East DMCC and will be a wholly-owned subsidiary of Montfort.
The business operates a 65,000 barrels/day crude processing facility in the Port of Fujairah, selling over 30 million barrels of low-sulphur fuel oil to the shipping industry annually.
A joint statement issued from the Private Office of Sheikh Ahmed Dalmook Al Maktoum and Montfort stated: “We are pleased to complete this acquisition, a flagship asset that will bring additional expertise and resources to benefit the local production and sale of marine fuels. This investment demonstrates our long-term commitment to this sector.”
Montfort has a diverse portfolio of assets and services in trading, shipping, retail, upstream, and downstream. Based in Geneva, Switzerland, the company has offices in 10 countries across Europe, Africa, the Middle East and Asia.
Uniper is an international energy company with activities in more than 40 countries. As Montfort notes, Uniper “makes an important contribution to the security of supply in Europe.”
As for the Private Office of Sheikh Ahmed Dalmook Al Maktoum, it has a portfolio of privately and publicly held group companies that focus on energy (conventional and renewable), infrastructure, LNG, oil and commodity trading, healthcare and agriculture sectors.
