Oman expands Duqm oil storage to attract producers avoiding Hormuz
Business
Oman is making a big move to boost its oil storage at Duqm Port, which sits outside the Strait of Hormuz.
The idea? Attract energy producers looking for alternatives to the Strait of Hormuz.
By using Oman's strategic position, Oman is hoping to bolster its strategic position in the energy sector.
OQ SAOC to buy 2 supertankers
Oman's state energy company, OQ SAOC, is leading the charge by looking to buy two supertankers that will act as floating storage right at Duqm.
CEO Ashraf Al Mamari says this could more than double its current capacity, strengthening Duqm's strategic storage role.