BAKU, Azerbaijan, December 19. Estonian fuel company Olerex and the Kazakh oil refinery Aktobe Refinery will collaborate on the sales and transit of marine fuel oil via the Tallinn port marine terminal, owned by Olerex, for the bunker customers on the Baltic Sea and beyond, Chairman of Olerex Antti Moppel told Trend.
Olerex and Aktobe Refining have formalized a partnership agreement to collaborate on oil refining and marine fuel trading, utilizing Estonian infrastructure. This agreement was signed during the Business Forum in Astana, which took place under the patronage of Presidents Kassym-Jomart Tokayev and Alar Karis.
Moppel highlighted that Olerex is a leading pan-Baltic energy company, responsible for importing and distributing over 30% of Estonia's total fuel consumption. The company operates 100 gas stations in Estonia, 60 in Latvia, and five under the Olerex brand in Lithuania.
He further emphasized that one of Olerex's strategic assets is its marine fuel terminal in the free port of Tallinn, which has a storage capacity of 78,000 cubic meters.
"Through our cooperation with Aktobe Refining, we are poised to expand our operations in bunkering and marine fuel oil transit. Our marine terminal is equipped with the capabilities and expertise to receive, store, blend, and reload both light and heavy oil products. As a result, we are opening an entirely new market segment for ourselves and our partner, Aktobe Refining," Moppel stated.
Aktobe Refining is located in the industrial zone of the city of Aktobe. The total volume of processed raw materials in 2024 amounted to 224,822 tons. The raw materials were sourced from 15 different fields. The average monthly processing volume was 18,735 tons.