Storage tanks in the United Arab Emirates’ Fujairah, a key bunkering and oil hub in the Middle East, have reached their full capacity for both crude and oil products, three industry and trading sources told Reuters on Wednesday.
Located on the east coast of the UAE at the entrance to the Strait of Hormuz, Fujairah is one of two major ports in the region along with Oman’s Sohar and is a busy refueling point for tankers taking crude on long voyages out of the Gulf.
The Fujairah emirate is keen to boost its status as a global trading hub by increasing its port storage capacity from 10 million cubic meters to 14 million cubic meters by 2020. Traditionally, it focused on fuel to power tankers and refined oil products but has also expanded in recent years to crude storage.
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