India is in talks to lease part of its planned strategic storage to UAE's state oil company Abu Dhabi National Oil Company (Adnoc), two government sources said, as New Delhi moves to protect its economy against crude price shocks and supply
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
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
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
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
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
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