VOL. XLIII

No. 28

10-July-2000

UAE

Sharjah Joint Venture Launches Oil Products Storage Project

Two Sharjah-based oil trading companies, Gulf Energy and Union Energy, have formed a 50/50 joint venture, National Oil Storage Company (Nosco), to set up a bulk oil products storage facility in the free zone at al-Hamriya at a cost of Dh20mn ($5.4mn). The facility, due to open mid-March 2001, will contain six storage tanks two each of 10,000 tons, 6,000 tons and 5,000 tons capacity to hold diesel,...