ABU DHABI / WAM The Abu Dhabi National Oil Company (Adnoc) on Wednesday announced a strategic investment in global storage terminal owner and operator VTTI BV (VTTI). As part of this agreement, Adnoc will acquire a 10 percent equity stake in VTTI. Following the transaction, VTTI will be owned 10 percent by Adnoc, 45 percent by IFM Global Infrastructure Fund ...

DUBAI / WAM The Chairman of Ajman Free Zone, Sheikh Ahmed Bin Humaid Al Nuaimi has met with Tielan Peng, Chairman of Hunan Group and Gulf Chinese Trading Corporation to discuss further strengthening trade opportunities between the two organisations. The Gulf Chinese Trading Corporation is a committed investor in Ajman and is the entity behind the China Mall which was ...

FUJAIRAH / WAM Refined oil products stockpiles in Fujairah rebounded in the past week, on higher supply of marine fuel and other heavy distillates and residues, according to data released on Wednesday by Fujairah Oil Industry Zone. Total inventories at the Middle East bunkering hub rose 5.9 percent week on week to 19.327 million barrels, bringing the total back to ...