Independent US liquid fuels storage provider Chemoil Terminals has been bought out by an unnamed investor group, Business Insider reported on 20 December.

Following the transaction, Chemoil Terminals would be known as Olympus Terminals, the report said.

Headquartered in Long Beach, California, Chemoil Terminals is the second largest independent petroleum storage provider in southern California for a range of refined products including diesel, renewable diesel, biodiesel and gasoline, according to the report.

The company operates two terminals — the Carson Terminal and the Long Beach Marine Terminal— that are connected by an extensive pipeline network.

“With our… ability to create and deliver the fuel required to meet today’s rigorous environmental standards, we are well positioned for growth,” Olympus Terminals CEO Vince Godfrey said.