The State Oil Company of Azerbaijan (Socar) plans to commission its new oil storage terminal in the United Arab Emirates (UAE) port of Fujairah by 2012.
The company is set to complete construction of the Socar Aurora Fujairah Terminal "in a year-and-a-half", a Socar official was quoted saying on local media.
Socar announced in May that it is partnering with Swiss company Aurora Progress to build the facility, which will have an oil storage capacity of 640,000 cubic metre (m3).
The terminal will have 20 tanks to handle fuel oil, gasoline, naptha and middle distillates and will be equipped with in-line blending facilities.
Socar claims to trade around 200,000 metric tonnes of fuel oil a month, mainly in the West.
Earlier this month, the company said it planned to expand its fuel oil business and supply marine fuels in Singapore next year.
The company is set to complete construction of the Socar Aurora Fujairah Terminal "in a year-and-a-half", a Socar official was quoted saying on local media.
Socar announced in May that it is partnering with Swiss company Aurora Progress to build the facility, which will have an oil storage capacity of 640,000 cubic metre (m3).
The terminal will have 20 tanks to handle fuel oil, gasoline, naptha and middle distillates and will be equipped with in-line blending facilities.
Socar claims to trade around 200,000 metric tonnes of fuel oil a month, mainly in the West.
Earlier this month, the company said it planned to expand its fuel oil business and supply marine fuels in Singapore next year.