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Doha – Mubasher: The Qatar Investment Authority (QIA) has acquired a significant stake in Oryx Intermediate Services, the largest private intermediate crude oil operator in the Bremen Basin, a subsidiary of Stonebeck Infrastructure).
The Qatar Investment Authority (QIA) said on Wednesday that the total investment of the Qatar Investment Authority in Oryx amounted to about $ 550 million, noting that the QIA should pledge to invest in the development of Oryx with Stonebeck.
Founded in 2013, Oryx is one of the leading intermediate operators in the Bremen Basin in the southwestern United States..
The Oryx system transports crude oil to shopping centers for final delivery to the Gulf Coast, and contributes to the supply of local refineries and the growing US export market..
Upon completion of the remaining part of the system under construction, the total capacity of Oryx will exceed 900,000 barrels per day..
Mansour Ibrahim Al Mahmoud, CEO of the Qatar Investment Authority (QIA), said the acquisition was further evidence of QIA's strategy to increase the size of its US portfolio and to invest more in major infrastructure projects. in the USA..
This partnership is the latest in a series of investments by the Qatar Investment Authority in the United States, which aims to bring these investments to $ 45 billion over the next few years..
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