Singapore-Singapore-based Concord Energy October 27 announced plans to build a 1.1 million cubic meter (6.92 million barrel) oil storage terminal in Fujairah in the UAE by end- 2012. The terminal will be able to store crude oil and all refined products. “The facility will be equipped with the latest blend technology and will be capable of making and breaking bulk [cargoes] across the entire product range,” Concord said in a statement.
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