Oiltanking; Company Overview
To gain a more profound understanding of Oiltanking and it's industry presence (https://www.oiltanking.com), its core corporate strategy, key strategic priorities, footprint, number of people, plans for 2020, and other relevant facts about the company.
Our first round of research unveiled the following information:
- Oiltanking is a tank storage logistics company that has been operating in the industry since 1972. Their clients include "private and state oil companies, refiners, petrochemical companies, and traders in petroleum products and chemicals."
- It is also regarded as one of the largest independent operators in the field of tank terminals for oils, gases, and chemicals globally. It currently owns and operates about 65 oil terminals in nearly 23 countries with a total storage capacity of 20 million cbm, across five continents, including Europe, North America, Latin America, the Middle East, Africa, India, and the Asia-Pacific region.
- The company employs 3,300 people globally.
- The company had an estimated revenue of $200 million in the third quarter of 2019.
- Oiltanking has about 1,000 different products, "including crude oil, petroleum products, biofuels, gases, and chemicals."
- Marquard & Bahls AG is the parent company of Oiltanking, and it also acts as the "financial strength" of the latter.
- "Besides tank storage, Oiltanking is also active in the engineering, procurement and construction (EPC) of tank terminals, pipelines, refineries and power plants."
- The main business areas of the company include petroleum storage, chemical storage, gas storage, and storage of other liquids.
- The core strategy of the company is to inculcate controlled growth, particularly for the tank terminal-based service network "through acquisitions, new buildings, and upgrading of existing facilities."
- They are also working for continued growth in petroleum products, petrochemicals, and refrigerated gas. Partnerships and collaborations are the biggest highlights of their core strategy.
- The company has recently stated its strategy for 2025, the key elements of the strategy are "maximizing the value of the current assets, achieving profitable growth, and providing the necessary enablers."
Oiltanking has defined three strategic directions that describe its way going forward:
- "Maximizing the value of current assets (cost optimization and reshaping the portfolio)"
- "Achieving profitable growth (project prioritization with a focus on gas and chemicals as well as enhancing customer centricity)"
- "Providing the necessary enablers (leading safety performance and driving sustainability)."
- The company has also described its core objectives; "to consolidate the regional structure in order to simplify and streamline the organization."
- Instead of eight regions to date, there will be three, more balanced, regions in future: Americas, EMEA (Europe, Middle East, Africa) and APAC (Asia Pacific including China and India). Furthermore, there will be four central functions: Finance (CFO), Portfolio & Strategy, Assets & Operations (A&O including HSSE) and Human Resources (HR).
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