"A new US$100 million oil storage terminal in Fujairah will start operations this week as the eastern emirate's strategic location attracts increased investment.
Dubai-based Emirates National Oil Company's Horizon Terminals Limited (HTL) will open the 240,000 cubic metres facility to store products such as fuel oil, naphtha, gasoline, gas oil, jet fuel and liquefied petroleum gas.
"The new oil terminal in Fujairah is of strategic importance to the energy sector of the region and in further establishing the emirate as a key regional hub in the oil and gas trade," said Saeed Khoory, Enoc's chief executive."
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