Prostar Capital has reportedly purchased a storage terminal in Fujairah.
Reuters reports that the Australia-based fund has bought the Socar Aurora Fujairah Terminal, located off the Gulf of Oman.
Reuters quotes that sources with knowledge of the matter did not say what the size of the deal was.
The terminal, a joint venture between Azerbaijan's state oil company, a Swiss commodity house and the government of Fujairah, has 14 storage tanks with a total capacity of 352,000 m3. Another 315,000 m3 of capacity is currently being built.
Storage for Mexico's new energy eraVenezuela's oil sector in tailspin A midstream first for Oman Redrawing the global oil & gas picture Regulatory update for US tank terminal operators A new leading European port Adaptable logistics for a changing market Boom time for storage in America Surviving hurricane season: preperation is key Storm preparation: flood risk and buoyancy hazards