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Fujairah Oil Terminal Delays VLCC Link To 2Q23

OIL

Fujairah Oil Terminal has delayed the start up for its project to connect its crude oil storage tanks to the port’s VLCC loading facility to the second quarter, from the first quarter previously scheduled according to S&P Global Commodity Insights.

  • The start-up date has been delayed because of supply chain issues, senior managing director at Prostar Capital, Dave Noakes said.
  • The project to connect to the port's VLCC loading facility is via the Matrix Manifold 2 to ADCOP pipeline. The project will add four pipelines and is expected to boost Murban exports from Fujairah as shippers are able to load crude directly onto VLCC vessels, reducing transportation costs, he added.
  • Throughput was just under 20mn t in 2022 and at 20mn t in 2021.

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