Oil stockpiles of Fujairah recorded a four-week slide while the rebound of heavy distillates making up for a string of declines in middle distillates and a drop in light distillates for the lowest in six weeks.
The Fujairah Port will get a fourth refinery in 2021 as Brooge Energy expects its 25,000 barrels per day (bbl/d) refinery producing low sulfur fuel oil to be launched in H2 2021.
The latest data issued by Fujairah Oil Industry Zone, showed that Fujairah port oil stocks recorded the highest level since August after increasing by 6.7% in the week to December 14
Data released by Fujairah Oil Industry Zone showed that oil products stocks in the East Coast port of Fujairah, continued to decline along the past week.
Oil product stocks have reached new record levels at the UAE’s East Coast Port of Fujairah due to an increase in heavy fuels used in marine and power industries.
Brooge Energy Limited, an oil storage and service provider, announced on May 4 that it has signed an offtake contract with an oil trading company which is one of the super major oil companies in the world.
ADNOC announced that it has acquired a 10% stake in VTTI, a global energy storage terminal owner and operator, as part of its transformation vision to become a more integrated global energy player.
The refinery is set to produce bunker fuel with a production capacity of 250,000 barrels per day (b/d).7
The oil products stock at Fujairah port increased by 2.4%, reaching 22.008 million barrels, according to data exclusively obtained by S&P Global Platts.
Emirati Brooge Petroleum and Gas Investment Co (BPGIC) plans to raise $400 million in capital in an initial public offering (IPO) on the London exchange before the end of 2018.
