EMEA News
Vopak: No Iranian Oil at Fujairah Terminal
Royal Vopak N.V. (Vopak) denies that Iranian oil is going through its product storage and blending terminal at Fujairah in the United Arab Emirates (UAE), Platts reports.
An investigation by Platts in early November found that Iranian oil was being sold as bunker fuel at the port.
"We would like to make it very clear that we don't store any product with certificate of origin Iran at our terminal in Fujairah in the UAE, nor in any other terminal in our global network," Vopak said in a statement emailed to Platts.
"Vopak follows strictly the rules and sanctions imposed to Iran in the countries that we operate in."
The Vopak Horizon Fujairah terminal, a joint venture between Vopak, Horizon Terminals, the local government and Independent Petroleum Group of Kuwait, expanded earlier this year and now has a storage capacity of 2.1 million cubic meters of oil products, with the total capacity set to rise to 6.8 million by the end of 2012 and 13.3 million by 2015.
The European Union tightened sanctions against Iran in October, and Iran's private oil firms have threatened legal action over the embargo, but Iran has argued the Western actions have had little impact.
