Bakri admits turnaround on Malaysian terminal deal
The Saudi Arabian oil company and bunker supplier Bakri Group admitted today that confusion had led to the company confirming reports of a deal with Malaysian businessman Tan Sri Syed Mokhtar Al-Bukhary to develop a new bunkering terminal in Johor last week, adding that, 'so far', it had no interest in the venture.
Spokesperson and Director for Operations and Management for bunker supplier and trader Bakri International Energy Capt. Ahmed Massoud told Bunkerworld last week that Bakri was 'working on' a deal with Syed Mokhtar's privately-held Seaport Terminal.
However, Capt. Massoud admitted today that he had been travelling abroad last week and misinterpreted press reports of the deal, which would have signaled the construction of a bunkering terminal to rival Singapore on a bunker island in Johor.
Capt. Massoud said today: "I was travelling abroad and later spoke to my chairman and found that there was no ground to this situation. So far, there is no interest in a deal.
"There has been no serious approach and no direct discussion from here or there," he added.
The Bakri Group, one of Saudi Arabia's largest oil companies, is widely perceived to have the necessary bunkering knowledge and financial strength to make the bunker port terminal project a success. The company, which is the leading supplier in Jeddah, Saudi Arabia, has been supplying bunker fuel for more than 30 years. According to reports from Malaysia, Port of Tanjung Pelepas (PTP) officials declined to comment on inquiries on the bunker port project and on the new partner.
Syed Mokhtar's privately-held Seaport Terminal had attempted, unsuccessfully, to attract local partners to develop what is probably the biggest bunker port in Malaysia.
Tan Sri Syed Mokhtar Al-Bukhary acquired 90% ownership of Seaport Terminal (Johor) Sdn. Bhd in 1993, when he was awarded a 30-year concession to build and operate the Port of Tanjung Pelepas (PTP).
The bunker island in Johor would see the creation of a purpose-built storage facility of more than 17 tanks for bunker fuel oil and diesel.
The exclusive bunkering zone on a 40.5ha site would complement the petrochemical complex that is also coming up in the Tanjung Bin area.
Spokesperson and Director for Operations and Management for bunker supplier and trader Bakri International Energy Capt. Ahmed Massoud told Bunkerworld last week that Bakri was 'working on' a deal with Syed Mokhtar's privately-held Seaport Terminal.
However, Capt. Massoud admitted today that he had been travelling abroad last week and misinterpreted press reports of the deal, which would have signaled the construction of a bunkering terminal to rival Singapore on a bunker island in Johor.
Capt. Massoud said today: "I was travelling abroad and later spoke to my chairman and found that there was no ground to this situation. So far, there is no interest in a deal.
"There has been no serious approach and no direct discussion from here or there," he added.
The Bakri Group, one of Saudi Arabia's largest oil companies, is widely perceived to have the necessary bunkering knowledge and financial strength to make the bunker port terminal project a success. The company, which is the leading supplier in Jeddah, Saudi Arabia, has been supplying bunker fuel for more than 30 years. According to reports from Malaysia, Port of Tanjung Pelepas (PTP) officials declined to comment on inquiries on the bunker port project and on the new partner.
Syed Mokhtar's privately-held Seaport Terminal had attempted, unsuccessfully, to attract local partners to develop what is probably the biggest bunker port in Malaysia.
Tan Sri Syed Mokhtar Al-Bukhary acquired 90% ownership of Seaport Terminal (Johor) Sdn. Bhd in 1993, when he was awarded a 30-year concession to build and operate the Port of Tanjung Pelepas (PTP).
The bunker island in Johor would see the creation of a purpose-built storage facility of more than 17 tanks for bunker fuel oil and diesel.
The exclusive bunkering zone on a 40.5ha site would complement the petrochemical complex that is also coming up in the Tanjung Bin area.
Alisdair Pettigrew | Tue Mar 9 14:09 GMT 2004