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Fujairah port to increase oil storage capacity

The harbour master at the UAE port of Fujairah has said oil storage capacity in the port is expected to rise to around 7.8 million cubic meters by 2014 from its current capacity of 5.8 million cubic metres, Reuters has reported. Oil storage capacity is expected to rise to 6.8 million cubic meters by the end of this year, he said, adding that the increase will come from the completion of projects by Aegean Maritime, Gulf PetroChem and ENOC, as some of these firms are building in Fujairah for the first time.