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UAE’s Brooge Petroleum takes first oil at expanded storage site

UAE’s Brooge Petroleum takes first oil at expanded storage site

Brooge Petroleum and Gas Investment Co. is the unit that operates the storage terminal at the port of Fujairah Brooge Energy Ltd. received its first oil cargo at a newly completed section of the company’s Middle East storage terminal as it expands to meet demand for ship fuel and other products amid growing regional trade.

Brooge Petroleum and Gas Investment Co. is the unit that operates the storage terminal at the port of Fujairah

Brooge Energy Ltd. received its first oil cargo at a newly completed section of the company’s Middle East storage terminal as it expands to meet demand for ship fuel and other products amid growing regional trade.

The New York-listed company has fully contracted out the additional storage capacity, which includes tanks for storing clean petroleum products and crude oil, Brooge said in a statement. Brooge didn’t say who had leased the tanks and stated that the capacity would be used under multi-year contracts.

Brooge Petroleum and Gas Investment Co. is the unit that operates the storage terminal at the port of Fujairah in the United Arab Emirates. Fujairah sits on the UAE’s Gulf of Oman coast just outside the Strait of Hormuz, a vital shipping chokepoint through which about 20 percent of global oil supply transits.

Oil storage firm Brooge plans major expansion of Fujairah capacity

Agreement for prime plot of land could add storage and services capacity of up to three and half times its current size

Fujairah is the region’s main oil trading hub and a stopping point for vessels refuelling and changing crews during trips to the Arabian Gulf and Red Sea.

The company has capacity to store about 6.3 million barrels of oil after the latest expansion. Brooge plans to build additional tanks and a modular refinery at the site. In July it said it had reached an agreement with Abu Dhabi-based trader Blue Ocean Energy FZC to build a 25,000 barrel-a-day refinery which Brooge will operate for five years, with the potential for three extensions of that duration.

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