Emarat, a fuel company based in the UAE, is considering renting out its storage tanks located in the port of Fujairah.The trader owns 13 tanks at the port following an expansion project earlier this year, which increased its oil storage capacity from 50,000m3 to 260,000m3, Tank Storage Magazine reports.
All the tanks can hold petrol, jet fuel and gasoil. The number of tanks Emarat is looking to lease out is unknown at this stage.
The interest Emarat has had from potential occupiers has been positive. The company is said to be collecting bids and applications from interested parties and it could have finalised the process by the end of this year.
PetroChina was reportedly among one of the prospective bidders but is know looking elsewhere.
All the tanks can hold petrol, jet fuel and gasoil. The number of tanks Emarat is looking to lease out is unknown at this stage.
The interest Emarat has had from potential occupiers has been positive. The company is said to be collecting bids and applications from interested parties and it could have finalised the process by the end of this year.
PetroChina was reportedly among one of the prospective bidders but is know looking elsewhere.