SOCAR to develop oil transshipment in UAE

The State Oil Company of Azerbaijan (SOCAR) and the Aurora Progress, the Swiss based commodity trading house announced about an agreement on cooperation in the development of oil storage tanks, including the terminal for oil storage, which is under construction, in the port of Fujairah in UAE.

SOCAR will be presented by the company SOCAR Trading (Switzerland). The terminal with capacity of 641,000 cubic meters includes 20 reservoirs and has the capacity for transshipment of gasoline, naphtha, middle distillates and other petroleum products. Independent operator of the terminal, offering power infrastructure to third parties, will be SOCAR AURORA.


/Trend/