Ruler of Fujairah emphasises emirate's role in attracting oil investors
The emirate's strategic location and well developed infrastructure has seen energy companies invest in this storage hub
HH Sheikh Hamad bin Mohammed Al Sharqi, the rule of Fujairah and member of the Supreme Council, stressed the role of the emirate in attracting investors in the energy sector by creating an appropriate investment environment.
He made this statement in the presence of Russel Hardy, the CEO of Vitol, which has invested in the emirate. Hardy noted that Fujairah has a key role in local and international energy markets, state news agency WAM reported, because of its strategic location and infrastructure.
Vitol has 1.6mn cubic metres of storage capacity in Fujairah, across two facilities, with production capacity of 180 barrels per day, according to WAM.