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 Mobil, is looking to build up to 1m cu m of storage capacity at the United Arab Emirates port, the sources said.
“They (PetroChina) have two options available for them,” one source said on the condition of anonymity. “They can build on their own or they can work with someone else, it's not clear which option they will pick yet.”
Petrochina, the world's second-most valuable oil firm after Exxon Mobil, is looking to build up to 1m cu m of storage capacity at the United Arab Emirates port, the sources said.
“They (PetroChina) have two options available for them,” one source said on the condition of anonymity. “They can build on their own or they can work with someone else, it's not clear which option they will pick yet.”