(EnergyAsia, August 30 2012, Thursday) — Mobil Oil New Zealand Limited said it is expanding and upgrading fuel storage facilities at its Mount Maunganui Terminal to meet the growing demand for marine fuels at the Port of Tauranga.

The ExxonMobil subsidiary will refurbish an existing under-utilised eight-million-litre tank and upgrade the terminal’s boiler, control room and operating systems, lifting its total investment in the country’s network of terminals and service stations since 2007 to NZ$70 million. (US$1=NZ$1.25).

The investment will enable the company to meet rising demand for storage and handling of heavy fuel oil from the growing traffic of cargo vessels and cruise ships at the country’s largest port.

The Mobil-owned and operated terminal supplies gasoline and diesel products to commercial, industrial and retail customers across the central North Island as well as marine fuel oil bunkers for the Port of Tauranga.