Dubai-based trading firm Ocean Petro Gulf (OPG) has leased an oil products and bitumen storage facility terminal in the Jebel Ali Free Zone (Jafza) from energy logistics firm Tristar, and will be the operator, according to market sources.
OPG is planning to expand by building a 10,000t bitumen storage facility at the terminal in the near term. OPG has agreed with Tristar to construct the bitumen storage tank on expectations of rising demand in that location.
The terminal was previously owned by Shell and was acquired by Tristar in mid-2022. The terminal has been leased out to OPG as of October under a long-term operator arrangement, but the duration of the lease was undisclosed.
The terminal currently has a bitumen storage capacity of 11,000t, and can import and export about 350,000 t/yr of oil products.
The operatorship agreement also includes an integrated 90,000 t/yr polymer modified bitumen (PMB) plant, drums filling facility and an emulsion plant. The terminal also has a bitumen and PMB testing facility.