Sinopec, Freepoint to lease Hovensa oil storage

摘要

China′s state-owned Sinopec plans to lease more than three quarters of the operational storage at the Hovensa oil terminal in the US Virgin Islands, under the terms of a proposed sale of the underutilized complex to Limetree Bay Holdings. Limetree is owned by US private equity fund ArcLight Capital Partners and minority equity partner Freepoint Commodities, which is also leasing some of the storage.