Brazil: EBX, BP Choose Açu Superport for Marine Fuels Terminal

LLX Logística S.A., the private Brazilian company developing Açu Superport, the largest port infrastructure investment in Latin America, which will be the Brazilian hub for the Oil and Gas industry and one of the largest ports in the world, hereby announces to its shareholders and the market in general that:

EBX Holding Ltda (“EBX”) and BP Products North America Inc. (“BP”), a BP PLC Group Company, have signed a contract to establish the Company MFX (Marine Fuels X), which will import, export, market and distribute marine fuels, under the BP Marine brand. MFX will be controlled jointly by BP and EBX with a 50% stake apiece. Promptly upon the execution of final agreements, the new company will commence its activities by importing marine fuels during 2013 and marketing to clients in the local market.

BP and EBX have chosen the Açu Superport as the most favorable location for the construction of the Terminal, which will be established alongside TX2, with all necessary infrastructure to perform distribution of marine fuels. This supply center will address the requirements of several types of ships and activities, such as PSVs (Platform Supply Vessels), Cabotage and Long-Haul ships for marine fuels such as MGO – Marine Gas Oil and IFO – Intermediate Fuel Oil.

With the development of the supply activities, LLX will lease approximately 350 thousand m2 located on the entrance of the canal of the TX2 and intends to lease a further 600 thousand m2 on TX1, located in the area selected to receive an Oil Treatment Facility.

“This initiative will focus on guaranteeing to companies that are constructing their plants at the Açu Superport a competitive and continuous supply of high quality marine fuel for their operations. In addition, this will help turn the Açu Superport into a Hub Port for marine fuels recognized globally”, said Marcus Berto, LLX’s Chief Executive Officer.

BP Marine is one of the world’s leading suppliers of fuels, lubricants and technical services to the global marine industry. BP Marine has a global presence supplying some of the largest container, tanker and bulker companies in the world. Committed to the highest standards of quality and to safety and the environment, BP Marine supplies the full range of marine fuels in key shipping hubs globally.

“This agreement reinforces BP’s commitment to the Brazilian Energy sector and is complementary to our initiatives in E&P, Lubricants, Aviation fuels and Biofuels”., said Luiz Figueiredo, BP IST Brazil Regional Manager.

With the development of this JV, the Açu Superport should become one of the main distribution centers for marine fuels in the South Atlantic. The beginning of the operational activities by the new company is subject to licensing and authorization processes usually required.

[mappress]

LLX Logística, March 6, 2013