Monday 21 April 2014
oil storage

Fujairah oil storage capacity to rise by 2 mcm

  Oil storage capacity in the UAE port of Fujairah is expected to rise by 2 million cubic metres (mcm) this year to just over 6 mcm, port data shows.   The port


Iran to build more oil storage as sanctions bite

Iran will build millions of barrels of oil storage facilities in the Gulf over the next few months in response to international sanctions on its exports, Iran's Press TV reported on Sunday. "By the middle of the next (Per


Sinopec to build oil storage in UAE port

Singapore-based Concord Energy and China's Sinopec will start to build oil storage in the UAE port of Fujairah within two months, a source at Concord Energy said on Wednesday. Traders are rushing to secure oil storage outside the


Fujairah oil storage expansion complete

United Arab Emirates' Emarat has completed its oil storage expansion project at the port of Fujairah, boosting its capacity at the key Gulf of Oman terminal to 260,000 cu m, the fuel retailer said. The Dh300-million ($81.68 million) expans


PetroChina in talks for Fujairah oil storage facility

Chinese oil major PetroChina is in talks with the government of Fujairah to build oil storage facilities at the Fujairah port, industry and port sources told Reuters. Petrochina, the world's second-most valuable oil firm after Exxon Mo


Saudi to start storing crude in Japan

State-run Saudi Aramco will start storing crude oil in Japan from February onwards, helping the Pacific nation stock up its reserves while giving the top oil exporter better access to Asian markets. State-run Japan Oil, Gas and Metals Nati


Daewoo wins $17m Oman oil storage contract

South Korea's Daewoo Engineering and Construction Company signed a 6.6 million rials ($17.1 million) contract to build a fuel storage tank for a refinery in Oman, a tender board official said. 'The contract is for an additiona

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