PetroChina is in talks with the Fujairah government about building oil storage facilities at the Fujairah port.
According to Arabian Business, PetroChina wants to build about 1 million m³ of storage at the port and will either do so on its own or work in conjunction with another oil company.
The company could possibly join with Vopak Horizon Fujairah or Kuwait’s Independent Petroleum Group.
The Fujairah port is a major bunkering hub and currently has plans to more than redouble its capacity to just over 7 million m³ from its current 3 million m³.
The port has said in the past that it wants Chinese investment into the area and has been in talks with other Chinese companies about potential developments.