EMEA News
Gulf Petrochem Expands UAE Bunkering Operations
Gulf Petrochem Group Monday announced in an emailed press release that it is set to expand bunkering activities in the UAE despite what it has described as a "volatile market".
The group will begin bunkering at the port of Khor Fakkan using bunker barges operating from its existing Fujairah storage facility.
The group said it plans to offer a wide range of marine fuels including RMG 380, RME 180, MGO DMA, and LSMGO.
"We know that the market situation is volatile, however it has always been a strategic objective of the group to be able to offer bunker supplies to our customers out of our terminal in Fujairah," said Prerit Goel, Group Director.
"We remain largely unaffected by price volatility due to prudent risk management practices and our diverse presence across the oil supply chain.
"This expansion further compliments our strategy to enhance our standing as a global conglomerate operating in the oil space."
Earlier this month DP World said this year it would double investment to grow operations in the UAE, hoping that low oil prices would give a boost to international shipping through the region by stimulating output in emerging economies.
