Chemoil to Complete Fujairah Expansion by Q3 2012

Global marine fuel supplier Chemoil Energy Ltd. expects to complete the seven-fold expansion of its Fujairah storage terminal by the third quarter of next year, the company's chief executive said. The joint venture storage terminal with Gulf Petrol Supplies LLC at the United Arab Emirates port of Fujairah will grow to 675,000 cubic meters from 90,000 cubic meters, Thomas Reilly said at the Reuters Global Energy and Climate Summit.

"It is a large project and it is on target," he said.

Chemoil is targeting to increase bunker volume sales in 2011 to 23-24 million tonnes from around 15.5 million tonnes a year earlier.