Trafigura and Meroil launch joint venture at Barcelona Terminal

Trafigura, a global leader in the commodities market headquartered in Singapore, has finalised the acquisition of a 50% stake in Meroil Tank S.L., forming a 50-50 joint venture with Spanish oil operator Meroil S.A. This joint venture includes 356,000 m³ of refined oil products storage capacity at the port of Barcelona and aims to strengthen the partners’ ability to meet the growing demand for fuel, biofuels, and logistics services.

The joint venture reflects both companies’ commitment to low-carbon fuel solutions, blending Meroil’s extensive local logistics network with Trafigura’s expertise in global energy markets. The terminal will continue serving existing clients while expanding services to accommodate the increasing use of biofuels and low-emission energy sources.

“We are delighted to join forces with Meroil, a prominent logistics provider and wholesale fuel operator in Barcelona,” said Jamie Torrance, global head of Distillates for Trafigura. “The asset is integral for the import of refined products and biofuels in the region; offering advanced logistics and flexibility to our current and future customer base. We look forward to working with the Meroil team on the further development of the terminal’s logistics, while staying attentive to the market’s evolution towards low-carbon fuels.”

“We appreciate the opportunity to work with a world-leading company in the oil trading sector; this collaboration will significantly enhance the development of our business in Spain,” said José Luís Porté, president of Meroil.

The new joint venture positions both Trafigura and Meroil to address the evolving energy market’s needs while contributing to Spain’s national energy transition goals. The terminal will store and distribute a variety of refined oil products, including gasoline, diesel, jet fuel, and biofuels, further supporting decarbonisation efforts in the region.