Emarat set to lease Fujairah oil storage capacity
Dubai, June 8, 2011
United Arab Emirates' fuel retailer Emarat will have 263,000 cubic meters of oil storage capacity at the UAE port of Fujairah, which will be ready for leasing by September, the company said on Wednesday.
'Emarat is in the final stages of expanding its existing facilities at Fujairah Terminal within Fujairah Port,' it said in a document inviting the interested parties to provide information about their operations.
The companies are required to submit this information by June 14, after which they will be invited to submit a formal proposal, Emarat said. It did not ask for commercial bids or rates at this stage.
Emarat's terminal has been designed to handle refined oil products such as gasoil, jet fuel and fuel oil and will have a total of 13 tanks ready for leasing when completed.
Located on the east coast of UAE, the world's third-largest oil exporter, the port of Fujairah has been emerging as an oil storage hub, with international companies increasingly trying to capture storage space for shipping out to Asia.
Emarat also has oil storage terminals in UAE's Jebel Ali port and other two emirates; Sharjah and Ras al Khaimah.-Reuters
More Energy, Oil & Gas Stories
- Total unit inks Elf Lubricants agreement
- Opec raises forecast for 2014 global oil demand
- Mitsui joins DME as trading member
- GE Power Conversion wins major SEC order
- Basra Light crude exports to rebound in April
- Aramco to produce unconventional gas for projects
- Alstom opens smart grid centre in Dubai
- Experts discuss key geosciences issues
- Egypt to permit factories to use coal for energy
- ME oil, gas transaction value up 15pc
- Victrex to showcase new product in Paris
- Aramco JV puts off giant refinery overhaul to 2015
- Libya threatens to bomb N Korean tanker
- Bahrain 'producing 850MW of surplus power'
- 2,000 experts for Bahrain geosciences summit
- Libyan rebels start oil exports, bypassing govt
- Dubai drilling company set for London IPO
- Opec output soars on higher Iraq exports
- S Korea to pay Iran $550m under nuke deal
- Qatar LPG exports will stay unchanged till 2018
- $14bn Bahrain energy sector focus for summit
- Iraq now world's fastest-growing oil exporter
- Old IT systems pose risk to oil firms
- Thomson Reuters adds commodity monitoring tool
- Oil below $90 to hit GCC economies
- GlassPoint appoints new Oman director
- Sheffield company opens Dubai hub
- Oman targets big rise in gas output
- Intertek buys UAE firm for $66m
- Qaiwan to tender Baizan refinery EPC contract