Middle East News

 A Dubai-based bunker trading company is looking to expand its team with two experienced bunker traders.

Dubai’s Roads and Transport Authority (RTA) has designated a station at Sabkha Marine Transport Station to supply biofuel to traditional Abras operating on Dubai Creek from July.

Saad Sherida Al-Kaabi, Qatar’s Minister of State for Energy Affairs and the President and CEO of Qatar Petroleum, says that the ‘environment is front and centre of our strategies in the energy sector’ – but warns against being driven by an ‘over-excited euphoria that envisages depriving investment from the oil and gas sector’.

Satnam Singh, COO of Singapore-headquartered Sing Fuels, has relocated to Dubai to develop the company’s operations in the UAE market.

Some 674,296 cubic metres (cbm) of bunker fuel were sold at the Middle Eastern bunker hub last month, 7.3% more than in March.

Speaking at Petrospot’s Global Bunkering Summit, Sherine el Naggar, Chairman of the Board of Naggar Shipping, said that Egypt is looking to build on its recent economic progress to become a ‘world maritime hub’, supported by a rejuvenated bunker market.

Through the agreement, OQ-owned Oman Tank Terminal Company (OTTCO) will provide operations and maintenance storage and marine services at the Oman Oil Marketing Company’s (OOMCO) bunker terminal, which is under development at the Port of Duqm.

A total of 628,659 cubic metres (cbm) of marine fuel was sold at the Port of Fujairah in March – 0.4% down on the 631,430 cbm recorded in February.

ADNOC Logistics & Services (ADNOC L&S) has announced the acquisition of two additional very large crude carriers (VLCC) – one of which features dual-fuel technology, the other, a scrubber.

Qatar Petroleum will not be renewing the Qatargas Liquefied Natural Gas Company Limited (QG1) joint venture with Total, ExxonMobil, Marubeni and Mitsui when the agreements expire at the end of this year – and will instead become the sole owner of 100% of the QG1 assets and facilities on 1 January 2022.