Dubai: Montfort Group and the Private Office of Sheikh Ahmed Dalmook Al Maktoum (the Private Office) have acquired Uniper Energy’s oil refinery in the UAE that produces low-sulphur fuel oil for the shipping industry, the company said on Wednesday.
This makes Montfort one of the top two suppliers of ship fuel, also known as bunker fuel, in the world’s third-largest bunkering hub located in the United Arab Emirates’ city of Fujairah, rivalling energy trader Vitol. The business will be named Fort Energy Refining Middle East DMCC. Fort Energy is a wholly owned subsidiary of Montfort.
The business operates a 65,000 barrels/day crude processing facility in the Port of Fujairah, selling over 30 million barrels of low-sulphur fuel oil to the shipping industry each year.