Fujairah rule: create the right investment environment for oil companies

Hamad Al Sharqi at a meeting with Russell Hardy (WAM)

Fujairah (WAM)

His Highness Sheikh Hamad bin Mohammed Al Sharqi, a member of the Supreme Council and Ruler of Fujairah, emphasized the importance of the role of the Emirate of Fujairah in creating an environment conducive to life. investment for oil companies, attracting all investors in the energy and oil sector, and meeting their ongoing needs, in a manner that suits the sustainable development process pursued by the UAE .
This took place yesterday at a meeting at Rumaila Palace, Russell Hardy, CEO of Vitol International Petroleum, which reviewed the latest developments in the energy sector and the strengthening of cooperation and partnership ongoing between the Fujairah government and Vitol Petroleum, one of the leading oil trading companies.
His Highness emphasized that the emirate of Fujairah has become a major player in the local and international energy markets, due to its strategic location and its integrated infrastructure, which allowed it to retain all the attention the world in all economic areas, including the storage of oil and its derivatives.
Vitol International Petroleum is present on all continents of the world and has 16 oil storage stations and refineries around the world, including Fujairah.
The company's storage capacity in the emirate of Fujairah is 1.6 million cubic meters and two refineries with a total capacity of about 180 barrels per day.
Mohammed Saeed Al Dhanhani, Director of Amiri Diwan, Captain Salem Al Afkham, Director of the Petroleum Industry Zone of Fujairah (Foz) and Sivash Ali, General Manager of VTI Fujairah Station, attended the meeting.