In line with the UAE’s role as a principal member of the U.S.’s new Middle East strategy to counter China’s increasing influence in the region, Brooge Petroleum and Gas Investment Co., announced last week that it has begun operations at its 600,000 cubic metres (cu m) second phase storage facility at the Port of Fujairah. This will bring its total capacity to around 1 million cu m, equivalent to 6.3 million barrels of crude oil. The additional capacity is part of the UAE’s plan – and the US’s – for Fujairah to dramatically expand its crude oil storage capacity to at least 12 million cu m by 2024, and – according to comments from the Fujairah port development authorities earlier this year – to at least 17 million cu m within a year or so after that. In so doing, the UAE and US hope to counter the threat […]