Mobile UPI  |   About UPI  |   UPI en Español  |   UPI Arabic  |   UPIU  |   My Account
Search:
Go

UAE to expand Maltese energy port

|
|
 
  
Published: May 28, 2010 at 5:05 PM
Advertisement

DUBAI, United Arab Emirates, May 28 (UPI) -- Emirates National Oil Co. is to expand its oil storage and shipping facilities in Malta.

ENOC subsidiary Horizon is to expand an oil storage terminal in Malta as well as construct a pier for very large crude carriers and two for vessels up to 120,000 deadweight tons, Gulf News reported Friday.

The terminal is near the Marsaxlokk Port. Horizon declined to provide financial details of the project.

Energy information provider Platts Middle East Editor Kate Dourian commented: "The move makes sense geographically and positions Horizon at the gateway into Europe and North Africa. I also think this is part of a longer-term strategy. Demand is flat in Europe at the moment and refineries are either cutting back or shutting down. Horizon will probably stock up on products until the market improves."

Malta is a hub for shipping lines, being located at the crossroads of some of the world's busiest routes that carry more than 120 million tons annually of oil products.

© 2010 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.

Order reprints
  
Join the conversation
Most Popular Collections
Notable deaths of 2012 Scripps National Spelling Bee AmfAR Cinema Against AIDS gala
Indianapolis 500 Presidential Medal of Freedom Memorial Day around the nation
Additional Energy Resources Stories
1 of 27
Snigdha Nandipati of San Diego wins Finals of the Scripps National Spelling Bee
View Caption
Snigdha Nandipati of San Diego, California watches confetti rain down as she wins the two-day Scripps National Spelling Bee championship, May 31, 2012, in National Harbor, Maryland. Nandipati successfully spelled the word .* guetapens *, meaning to lure or ambush. UPI/Mike Theiler
fark
Protip: If you're a 14 year old boy, and you go on Facebook and say a girl is too fat and ugly to...
LAST CALL - TORONTO FARK PARTY Saturday June 2. 1pm baseball game 8pm variety show. DIT
What a 26-year-old stripper worthy of a 10-hour police interrogation might look like
Films not to try and replicate in real life #447: The Shawshank Redemption
Hey, wait a minute. You can't graduate from elementary school, you're a bear
If you would have listened, I said only ONE of us should rob the bank then we could both blame the...