DECEMBER 2010
Ten year deal to remain on Teesside
Harvest Energy who took over the former Biofuels Corporation plant at Seal Sands earlier this year, have announced a ten-year deal to remain on Teesside, and in addition sixteen of the former Biofuels Corporation staff have also been reinstated at the plant by the company.
Chris Brookhouse, Development Director of Harvest Energy said on the deal, "We decided to make a long-term commitment to Teesside. This is a world-class plant with a sizeable 250,000 tonne capacity; it's very efficient and Teesside's sound petrochemical background also appealed. It made a lot of sense and the timing was fortuitous for us. Whatever the world throws at you, if your plant has parameters like this one, then you've a good chance of surviving".
In three years, he said, "Harvest Energy has moved 'upstream' from a buyer to a manufacturer of biodiesel".
The company will make and sell Biodiesel from the Seal Sands plant and also supply its own operation at Grangemouth.
OCTOBER 2010
Hydrocarbon Hotel sea terminal on schedule
Harvest Energy's parent company, UK based Blue Ocean Associates Ltd, and Netherland Company, North Sea Group BV who joined forces earlier this year to create "Hydrocarbon Hotel" gave the official go ahead last month for the construction of the new sea terminal in the Port of Amsterdam to commence.
The Hydrocarbon Hotel sea terminal will be used for the export and blending of petrol and diesel, as well as petrol components and biofuels.
So far the foundations of the first three tanks have been laid, allowing the tank builders to now commence work. Eleven tanks will eventually be created with a capacity of 140,000m3, three berthing jetties will also be constructed with the ability to take large sea-going tankers, and the entire terminal is on schedule for completion by December 2011.
JULY 2010
Dutch and UK Company combine forces in the field of export and blending
Netherlands based North Sea Group BV and UK Company, Blue Ocean Associates Ltd have joined forces to create 'Hydrocarbon Hotel' which will build a sea terminal currently under construction in the port of Amsterdam.
The terminal expected to be fully operational by the end of 2011, will be primarily focused on the blending of gasoline, and will also be utilised for both importing and exporting the finished product, as well as additionally having the capability to import biofuels and distillates.
For the North Sea Group, which was formed by the merger of Van der Sluijs Groep and FNR+ Holding (Frisol, North Sea Petroleum and Reinplus Vanwoerden), this is its first company terminal with sea connection. Commenting on this latest development, Peter Nohlmans, CEO of North Sea Group said, "With this terminal in the Amerikahaven harbour basin, the company is able to expand its trading activities and to start up a new petrol blending activity. North Sea Group will use the terminal to distribute the petrol within its own network and for exports to the United States".
The Blue Ocean Group, comprises the international cargo trading company Blue Ocean Associates Ltd, and London based Harvest Energy. Commenting on this latest development, Janet Ashdown, CEO for the Blue Ocean Group & Harvest Energy said, "This is the first terminal asset the Group has built, owned and operated, and this latest joint venture will provide a significant supply base to our activities in the ARA region with onward sale to all markets".
APRIL 2010
Press Release - 20th April 2010
Janet Ashdown, former head of BP's UK Fuels business, has been appointed Chief Executive of Harvest Energy and Blue Ocean Trading. Janet retired from her BP role in September last year.
London-based Harvest Energy is the UK's largest independent blender and supplier of road fuels and now aspires to be a market leader in the forecourt branding of independent retailers. Janet took up her new role this month.
Janet joined BP after leaving Swansea University in 1980 with a degree in Energy Engineering. She held a variety of roles within the company across the Refining, Supply Chain, Trading and Marketing businesses.
Commenting on her new role Janet said "This is an exciting time in my career. Having worked for many years for a large international oil company I am looking forward to the challenge of working for an independent fuels business. Harvest Energy has an exciting new Retail Brand with 15 years experience in the distribution sector and the changing nature of the UK market will create great growth prospects for independents like ourselves."
JANUARY 2008
Press Release - 10th January 2008
Blue Ocean Associates Group is pleased to announce the acquisition of the Group by Ion Equity.
Blue Ocean is one of the largest independent fuel businesses in the UK market, and a significant blender and supplier of fuel products internationally. The company supplies approximately 5% of all road fuels used in the UK as well as approximately 1 billion litres of blended fuel products sold internationally. Not including duty, turnover is approximately one billion.
The transaction includes the businesses of Harvest Energy in the UK and Blue Ocean Associates in Amsterdam. Harvest Energy blends and supplies fuel to a range of large customers in the UK including major supermarket chains and transport operators. Blue Ocean associates (an Amsterdam based trading business), blends gasoline for sale to markets internationally. The Company has access to considerable storage capacity and enjoys product exchange agreements with some of the major oil companies in the UK.
The principal vendor, Rick Grimm, and other senior management have reinvested a proportion of the proceeds of the sale back into the business. Colin Bannerman a former Senior Executive with Chevron and Texaco has been appointed as Chief Executive of the business and is also an investor in the business. He will augment the already strong management team which will be remaining in place.
Speaking today, Neil O'Leary, Chief Executive of Ion Equity, said that the company had been exploring acquisition opportunities in the UK fuels market for some time: "we believe that there are significant investment opportunities in the fuels business internationally. Many of the major international fuel companies are refocusing their efforts on upstream opportunities (exploration and production) and emerging markets. This opens the possibility of acquiring good fuel and infrastructure assets in leading economies."
"Blue Ocean Associates has a proven business model and has been at the forefront of the developing bio-fuels market in the UK. Together with its strong management team and valued client base, this positions the company strongly for future growth."
O'Leary said that the company was an ideal platform from which to build a major UK and international fuels business: "We're very ambitious for this business. We've already committed to plans to expand operations and we're exploring the possibility of some interesting bolt-on acquisitions that can help us to drive this business forward. We'll look at opportunities in Ireland, in the UK or in Europe if we believe they will add value."
Colin Bannerman, incoming CEO, said that the new company would be a major force for competition in the UK fuels market: "the ability to supply competitively produced fuel into the UK market has been a key factor in the success of Blue Ocean to date and that will continue to be the cornerstone of our strategy. Furthermore the new ownership structure will place the business in a stronger position to serve its customers in today's volatile oil and financial markets."
Rick Grimm, principal vendor, said that he was delighted that the company was now positioned to grow strongly based on further investment: "Ion Equity knows the fuel business and has the capability of bringing substantial investment to support the further growth of this business. This is a very exciting time for Blue Ocean and everybody involved with it."
Ion Equity is an Irish headquartered private equity firm with offices in Dublin and London. Key investments by the company in recent years include the establishment of Topaz Energy Ltd, which owns and operates the former retail and fuels distribution businesses of both Shell and Statoil in Ireland and the acquisition of SWS Group - a leading alternative energy supplier and business process outsourcer in Ireland.