Mubasher: Australia’s Prostar Capital has acquired a storage terminal in the UAE’s Fujairah oil hub, unnamed sources told Reuters on Monday.
Located off the UAE’s east coast in the Gulf of Oman, the hub named Socar Aurora Fujairah Terminal FZC is a joint venture (JV) between Azerbaijan’s state oil company, a Swiss commodity house, and the government of Fujairah.
The Fujairah terminal comprises 14 operational storage tanks with total capacity of 352,000 cubic metres. An additional 12 tanks, with 315,000 cubic metres of capacity, are currently being built, according to the news agency.
The sources did not unveil the value of the deal.
