The Qeshm Island facility is reported to be opening within the next two months.
Iran is set to open a new bunkering operation within the next two months on Qeshm Island, according to regional media reports, with some describing it as "the biggest of its kind in the Persian Gulf."
Qeshm Star fuel delivery Co. (Bunkering) has plans to supply 500,000 to 700,000 metric tonnes (mt) of bunkers per year at the new site, according to a report by Iran-based IranOilGas.com, adding that the facility is in the final stages of construction.
Iran typically produces high-quality fuel oil, which following the lifting of sanctions against the country is reported to have been making its way into the Singapore and Fujairah bunker markets.
Last month Ship & Bunker reported that oil traders have entered into what was described as rare barter deals with the National Iranian Oil Company (NIOC), and are supplying Iran with gasoline in exchange for fuel oil.