10th Anniversary
#EMFF22WEEK
ENERGY MARKETS FORUM
October 4th – 6th 2022
The Fujairah Oil Industry Zone (FOIZ) regulates and manages the unique multi-billion-dollar energy ecosystem serving the Indian Ocean basin, connecting the Middle East with East Africa and the Indian Sub-Continent. Given the location of Fujairah, it naturally dovetails with the most important oil trade routes of the world that forms a New Silk Road to a majority of the world’s population. FOIZ hosts the Middle’s East largest commercial storage capacity for refined oil products , with the current storage capacity of all type of oil products in the region of 10million cubic meters. The storage capacity of FOIZ continues to grow and given the foreseeable projects it is set to become one of the largest commercial storage of hydrocarbons in the world. As of 2019, FOIZ hosts 17 oil terminals including prestigious, national & international oil companies. In addition to the state-of-the-art infrastructure and the vast storage capacity FOIZ focus in establishing the area as an integrated energy hub and the pricing center of the region, in the last 3 years Fujairah Energy Data Committee (FEDCOM) was established under the aegis of FOIZ and entered into an agreement with S&P Global Platts to publish a weekly inventory levels of oil products stored in Fujairah utilizing the first application of highly secure blockchain technology in the oil and gas industry.
GI Consultancy Intelligence Publishing
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