EMEA News
Malta Bunkering Company Signs Agreement with WFS
Malta state-owned Mediterranean Offshore Bunkering Co Ltd. (MOBC) has signed a deal to provide fuel storage tanks for U.S.-based fuel logistics company World Fuel Services (WFS), local Malta press reports.
"The partnership agreement will solidify Malta's aim of becoming a fuel services hub in the Mediterranean region." said a spokesman for Malta's Ministry of Energy.
"WFS has committed to maximise the use of MOBC tanks and it will carry out marketing for its fuel products and services, namely gas oil and fuel, in the region.
"MOBC will thereby strengthen its finances in the process," he said.
The Malta Environment and Planning Authority halted MOBC's operations at a storage terminal near the port of Valletta in 2011.
After residents complained of foul odours, authorities became concerned about high levels of air pollution while loading and unloading fuel and heating tanks.
The stoppage was lifted in 2013 after the government invested in terminal upgrades.
It was announced earlier this week that WFS is currently in court with its insurance company after falling prey to an $18 billion bunkering scam.
