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FinancialNews
01-06-19
Oil refinery project to commence in Fujairah
(MENAFN) Brooge Petroleum and Gas Investment Co (BPGIC), an oil and natural gas company in the United Arab Emirates (UAE), is launching a project to develop an oil refinery in Fujairah.
Through the new oil refinery, bunker fuel will be generated at a capacity of up to 250,000 barrel per day (bpd).
It will turn into the first facility within the region to operate under the new rules of the International Maritime Organization 2020 since it will cap sulfur content in shipping fuels.
CEO of BPGIC Nicolaas Paardenkooper confirmed that the company is expecting phase one of the facility to be concluded during the first three months of next year.
Paardenkooper added: "the new facility will contribute to bolstering the growing status of the Emirate of Fujairah in the oil & gas industry and help meet the growing demand for shipping fuel that complies with the new international laws on capping sulfur content in shipping fuels."
MENAFN0106201900450000ID1098596045
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