Emirates General Petroleum Corporation (Emarat) has signed an agreement with subsidiaries of oil majors BP and Shell to establish EMDAD Aviation Fuel Storage in Jebel Ali Free Zone (JAFZ). The partners, who own equal stakes in the new company, have put up AED132 million to fund the capital requirements of the new venture. (US$1=AED3.6). …
UAE: Emarat, BP and Shell establish jet fuel storage company
Posted on January 28, 2005 by EnergyAsia