Shell, Vitol increase UAE storage for Iraqi Oil

By John Lee.

Shell and oil trading house Vitol are reported to be stepping up their operations in the port of Fujairah to store Iraqi crude.

Shell, an equity partner in Iraq’s Majnoon oilfield, leased five large crude storage tanks at Fujairah port last year.

Vitol has also started to store crude from Iraqi Kurdistan in Fujairah, to be used in its 82,000 barrel per day (bpd) Fujairah refinery.

(Source: Reuters)

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