EXHIBIT 99.1

                           Statia Terminals Group N.V.
                                  P.O. BOX 170
                       St. Eustatius, Netherlands Antilles
                           Telephone: 011-599-31-82300
                              Fax: 011-599-31-82259

FOR IMMEDIATE RELEASE                                Contact:
- ---------------------                                Mr. Thomas M. Thompson, Jr.
11:00 a.m. EST - 2/22/02                             Telephone:  (954) 698-0705
NASDAQ ticker symbol:  STNV


        Statia Terminals Group Shareholders Approve Sale of Subsidiaries

         ST. EUSTATIUS, NETHERLANDS ANTILLES, February 22, 2002 - Statia
Terminals Group N.V. ("Statia" or the "Company") (Nasdaq: STNV) announced today
that its shareholders have approved (i) the sale of substantially all of the
assets of the Company consisting of the stock of its three subsidiaries (Statia
Terminals International N.V., Statia Technology, Inc., and Statia Marine, Inc.)
to Kaneb Pipe Line Operating Partnership, L.P. ("Kaneb"), a limited partnership
which is affiliated with Kaneb Pipe Line Partners, L.P. (NYSE: KPP), (ii) an
amendment to the Company's Articles of Incorporation implementing a distribution
mechanism for the proceeds of the sale, and (iii) the subsequent liquidation of
the Company. It is anticipated that the sale transaction will close on or about
February 28, 2002, and that distributions will be paid shortly after closing to
shareholders of record on the date of the closing of the sale. Statia's class A
common shares will be delisted from the Nasdaq National Market and Statia's
transfer agent will cease recording transfers of the shares at the end of
trading on the day that the sale transaction is closed.

         Statia provides storage, blending, processing, and other marine
terminaling services for crude oil, refined products, and other bulk liquids to
crude oil producers, integrated oil companies, traders, refiners, petrochemical
companies, and others at its facilities located on the island of St. Eustatius,
Netherlands Antilles, and at Point Tupper, Nova Scotia, Canada. The Company's
facilities, with their deep-water ports, can accommodate substantially all of
the world's largest oil tankers. In connection with its terminaling activities,
Statia also provides value-added services, including delivery of bunker fuels to
vessels, other petroleum product sales, emergency and spill response services,
and ship services. The Company is headquartered in Curacao, Netherlands
Antilles, and maintains an administrative office in Deerfield Beach, Florida.





         This announcement contains certain statements that are neither reported
financial results nor other historical information. These statements are
forward-looking statements within the meaning of the safe-harbor provisions of
the US federal securities laws. These forward-looking statements are subject to
risks and uncertainties that could cause actual results to differ materially
from those expressed in the forward-looking statements. Many of these risks and
uncertainties relate to factors that are beyond the Company's and its
subsidiaries' ability to control or estimate precisely, including the
satisfaction by the Company and Kaneb of the closing conditions to the sale
transaction, the ultimate closing of the sale to Kaneb and the actions of
governmental regulators. These and other risk factors are detailed in the
Company's SEC reports. Readers are cautioned not to place undue reliance on
these forward-looking statements, which speak only as of the date of this press
release. The Company and its subsidiaries do not undertake any obligation to
publicly release any revisions to these forward-looking statements to reflect
events or circumstances after the date of this press release.


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