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  • 13 May 2019 Petrolina will move storage units by years end

    read more

  • 6 May 2019 Energy saving measures grant scheme

    There are opportunities for those living in Cyprus to the reduce their energy... read more

  • 30 April 2019 KPMG Sales of many properties over 1 million

    The exogenous demand for luxury properties, particularly in Limassol, is... read more

  • 22 April 2019 Cyprus real estate investment Prospects and Risks

    The figures, trends and the state of the Cyprus real estate market over the... read more

  • 19 April 2019 Solution for trapped buyers edging closer

    Amendments to the law designed to resolve the Title Deed mess by enabling... read more

Cypriot Investment Scheme
Repossession Property Yield Properties

Latest news

  • 13 May 2019 Petrolina will move storage units by years end

    read more

  • 6 May 2019 Energy saving measures grant scheme

    There are opportunities for those living in Cyprus to the reduce their energy... read more

  • 30 April 2019 KPMG Sales of many properties over 1 million

    The exogenous demand for luxury properties, particularly in Limassol, is... read more

  • 22 April 2019 Cyprus real estate investment Prospects and Risks

    The figures, trends and the state of the Cyprus real estate market over the... read more

  • 19 April 2019 Solution for trapped buyers edging closer

    Amendments to the law designed to resolve the Title Deed mess by enabling... read more

Petrolina will move storage units by years end

   

Petrolina will relocate all its fuel storage facilities from Larnaca to its new terminal in Vasilikos, Limassol, by the end of the year, the company said on Thursday.

Following a guided tour of its premises in Vasilikos, Petrolina’s operations director Demetris Mavromichalos said that by January 1, 2020 the company will operate exclusively out of Vasilikos.

The company’s terminal would consist of 18 tanks of a total capacity of 113,000 cubic metres – 77,000 cubic metres more than currently stored in Larnaca.

Construction works at Vasilikos were expected to be completed by July, and in November or December the company would carry out a trial run on its new facilities.

Petrolina has purchased some 49,000 cubic metres of land at Vasilikos.

In June last year, energy minister Giorgos Lakkotrypis submitted a signed memorandum of understanding (MoU) to the cabinet between the government and six private companies for the removal from Larnaca of the fuel storage facilities.

According to the minister, a timetable had been fixed with a deadline of December 31, 2019 for moving the liquid fuels, and for the creation of LPG facilities by December 31, 2020.