Press Releases

March 27, 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 Houston-based subsidiary Newsco International Energy Services Inc. to Buffalo Oilpatch Supply Inc. As part of the agreement, all employees will be taken over.

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. In addition to its headquarters, Newsco has three operations centers in North America and operates internationally.

Buffalo has been a reliable and competent partner in the upstream sector for over 20 years. The Canadian company supplies rotary steerable systems and downhole mud motors.

Marquard & Bahls AG is a Hamburg-based family-owned company that operates in the fields of energy supply, trading and logistics. Its core lines of business include trading, tank storage logistics and aviation fuelling. Furthermore, the company is active in dry bulk handling, renewable energies, carbon trading, fuel analysis and gas supply. Through its subsidiaries, Marquard & Bahls has a presence in 39 countries in Europe, America, Asia and Africa and employs around 8,500 people.

Press Contact

Corporate Communication
Marquard & Bahls AG
Koreastraße 7
20457 Hamburg

+49 40 37004-0+49 40 37004-7609

Direct Contact

Jörg Walter
Head of Corporate Communication
Marquard & Bahls AG

+49 40 37004-0