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Tristar forms oil & gas logistics JV with ENOC in Saudi Arabia

Emirates National Oil Co (ENOC) has partnered with Dubai-based multi-modal liquid logistics service provider, Tristar Transport, to set up a new joint venture in Saudi Arabia focused on specialised logistics services for the kingdom's petroleum and chemicals sectors, Saudi Gazette has reported. With an initial capital outlay of SR30m, the new ENOC-Tristar JV will initially operate a small fleet of vehicles in 2013. Envisaged as a self-contained logistics facility, the JV plans to expand its fleet to 500 vehicles by 2017.