Oman plans to more than double oil storage capacity at a port outside the Strait
of Hormuz to leverage its strategic location and serve producers seeking to
bypass the contested waterway. State-owned energy firm OQ SAOC CEO Ashraf Al
Mamari said the company is evaluating purchase of two VLCCs to use as floating
storage at Duqm port and intends to raise onshore crude tank capacity from about
5.0 mln barrels to 10.0 mln barrels within three years.
