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March 2017

Marquard & Bahls Sells Upstream Services Business

With effect of March 21, 2017, Marquard & Bahls Upstream Holding GmbH and IOT Canada Ltd. have sold all its shares in its subsidiary Newsco International Energy Services Inc. to Buffalo Oilpatch Supply Inc. The sale of its upstream services activities is in line with Marquard & Bahls’ overall strategy of further growing its core businesses including trading, tank storage logistics and aviation fuelling.

Newsco offers full package directional drilling and completion services to its clients in the upstream energy industry.