Established in 2009, Primestar Energy has since achieved its impressive turnover growth.
We had achieved a turnover of over USD 2.5 billion during our first year of our incorporation and a consolidated turnover of over USD 9 billion.
We are constantly seeking to develop various aspects of business viz. trading, storage, projects, shipping, risk management etc as part of our evolution into an integrated oil and commodities company.
We have established banking relationships with leading international and regional banks, supporting our trading activities across various markets. These relationships have included banks across Switzerland, Belgium, the UAE, and other key financial centres, with certain relationships continuing to support our current operations.
Selected Banking Relationships:
- BNP Paribas — Switzerland
- ING — Belgium
- Société Générale — Switzerland
- Credit Suisse — Switzerland
- Banque de Commerce et de Placements (BCP) — Switzerland
- Abu Dhabi Islamic Bank — UAE
- Bank of Baroda — UAE
- Primestar Global Energy FZC, Sharjah, United Arab Emirates.
- Prime SMS Realtors PVT Limited, Chennai, India.
- Primestar Energy PTE Ltd, Singapore City, Singapore.
We have undertaken a joint venture with one of India's largest financial and investment groups, IL&FS, Mumbai, India, for the development, operation and maintenance of oil storage tank terminals in Fujairah, United Arab Emirates.
The terminal's total storage capacity being 600,000 CBM for Class 1, 2 and 3 petroleum products. The first phase, with a capacity of 300,000 CBM, was successfully developed and brought into operation.