In the year of its 50th anniversary, Oiltanking has taken the first step in its new journey in Oman by creating ADVARIO, a carve-out company focused on growth in chemicals, gases and new energies.

The new direction mirrors the company’s forward-looking approach to taking a frontrunner role in the energy transition by ensuring safe and reliable storage infrastructure for sustainable liquids.

Derived from combining advancement, advantage and variability, ADVARIO Oman launched its rebrand at the Kempinski Ballroom last Wednesday, under the patronage of His Excellency Thomas Schneider, the German Ambassador in Oman. The team will be led by Yasvin Buckhoreelall, ADVARIO Oman CEO, with the aim to drive growth, value and sustainability in the energy storage sector while achieving Net-Zero by 2040, in line with the objectives for economic diversification, decarbonization and sustainable operations.

As part of a global energy storage and logistics network with operating hubs in Belgium, China, Finland, Singapore and the United States, ADVARIO Oman is based at SOHAR Port and Freezone, which will play a vital role in achieving the objectives of Oman Vision 2040, that has highlighted the logistics sector as an area of high potential to enhance the economy. Oman’s strategic location and energy goals provide the ideal environment to develop a diversified economy which will provide the foundation for long-term growth.

Yasvin Buckhoreelall, ADVARIO Oman CEO

Yasvin Buckhoreelall, ADVARIO Oman CEO, comments: “We are excited to launch the new brand which better represents the direction of this chapter in our company’s history. ADVARIO will build on the successes of 50 years in a leading global role in energy storage and logistics infrastructure by embracing a new era in energy and quickly establishing ADVARIO as a sustainability leader.

Buckhoreelall added, “We will be guided by an integrated strategy which prioritizes the Environmental, Social, Governance (ESG) and de-carbonization frameworks that are in line with company and Oman’s 2040 vision. We will emphasize safety and operational excellence to deliver maximum value for our customers, partners and stakeholders.”

As part of the restructure, Bas Verkooijen has been appointed ADVARIO Group CEO in Rotterdam, The Netherlands, and will be supported by Douglas van der Wiel, Claas Pinkenburg, Yvan Tavernier, Liz Mayhew and Sophie Challet as the leadership team, together with 1200 employees worldwide. ADVARIO will continue its journey under the direction of a Supervisory Board, headed by Matti Lievonen of Oiltanking GmbH, in Hamburg, Germany.

Bas Verkooijen, Group CEO of ADVARIO, said: “We are convinced that only through highly ambitious ESG standards we will achieve ‘better business’ for our partners, society and ourselves. For me this means that besides ambitiously growing our business, an equally important priority will be to operate our business with the highest care for our people, the communities we work in and the environment we live in.”

He added: “The tank storage industry has a key role to play in enabling the energy transition as well as supply security. Today, we are making a bold step forward by launching – ADVARIO – our new company that will be focused on growth in petrochemicals, gases and new energies and puts sustainability at the heart of what we do.”

In order to maximize value from existing assets, ADVARIO will drive greenfield and material brownfield projects by adopting new energy and technological capabilities. The company will pro-actively seek strategic partnerships, mergers and acquisitions in this sector to achieve commercial excellence.