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Vopak to Ask for Proof of Product Origin

OIL

Major tank storage company Vopak is introducing a new contractual clause ahead of the December 5 EU oil ban on Russian crude which requires customers to provide a certificate of origin for oil stored at its terminals according to numerous Reuters sources.

  • The clause will be added as customers renew their storage contracts. It has not been officially confirmed by Vopak.
  • Vopak has previously said it has measures to track the origin of sanctioned product having previously experienced similar actions in other parts of the world.

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