How to Build a Global Fuels Leader
In 2003, Agility bought a majority stake in Tristar, the Dubai-based fuel logistics business that got started with just three trucks and a vision five years earlier.
Today, Tristar is part of Agility Global and is a fully integrated global energy logistics leader, operating in 30 countries on five continents. It provides first-mile to last-mile road transport and ships energy products across oceans with a tanker fleet of more than 30 vessels. It manages fuel storage at seaports and into-plane fueling at airports. Most important, Tristar is an acknowledged industry standard-setter for safety, innovation, sustainability, and operational excellence.
When Tristar was founded, most international and national oil and gas majors managed their Middle East logistics in-house. They transported crude oil, refined products and chemicals on their own – inefficiently and with little desire to invest in safety. Tristar CEO Eugene Mayne, a former Chevron executive who had built relationships throughout the industry, convinced them there was a better way.
Tristar has been an industry pioneer ever since. It became a trusted remote-logistics partner for the United Nations in Africa in 2007 and for the U.S. Defense Department in the Pacific in 2009. It established its presence in Saudi Arabia in 2013, under a 10-year agreement with Aramco, which relies on Tristar for transport of diesel, gasoline and jet fuel.
In 2015, Tristar moved into chemical distribution through a joint venture with Germany’s Brentagg. It upgraded its maritime capabilities two years later by acquiring Abu Dhabi’s ESHIPS in a deal that brought it five chemical tankers along with a maritime management team. Gulf Investment Corp. of Kuwait took a 20% stake in Tristar in 2017, strengthening Tristar’s capital base for future expansion. The company expanded its fuel storage, distribution and retail footprint in 2022 by acquiring a majority stake in HG Storage International, which had eight strategic assets in Europe, the Americas, the Middle East and Africa.
BP, Total, Shell, Linde and other customers have recognized Tristar for the highest levels of operational excellence and safety practices. Its strategy has been to separate itself from its peers by leading in safety, sustainability and innovation, and becoming an early mover on reporting and transparency. As of the start of 2024, Tristar drivers and vehicles had clocked an impressive 500 million kilometers without a single road fatality. Tristar has developed a state-of-the-art Driver Fatigue Management System and deployed blockchain and encryption technology to safeguard drivers, vehicles, cargo and communities.
On the maritime front, the company’s annual Safety at Sea conference shares best practices with industry counterparts. The goal is to save lives at sea, and the conference draws maritime shipping executives from all over the world.
In its drive to make the energy transition and reduce its carbon footprint, Tristar has been a leader in reporting its activities and critical data to UN Global Compact, the Carbon Disclosure Project, the Smart Freight Center, and other groups. Within its business, Tristar is pushing to cut emissions across the board. It is converting its coastal fleet to hybrid power; exploring new road freight technologies; powering its headquarters with solar energy; and shifting to renewables at three other facilities.
Tristar’s challenge is to future-proof itself. It is answering the challenge by adopting technology that enables instant data capture and real-time reporting. It also is pushing into cleaner, renewable sources of power through a green hydrogen JV in India and a biofuels plant in partnership with the UAE.
