Fujairah oil storage facility

Fujairah’s Oil Inventories Soared To 30.262 million Barrels!

According to Platts data, oil product inventories in the United Arab Emirates’ (UAE) Fujairah bunkering and oil hub in the Middle East jumped to record highs in the week to May 18, reports Reuters.

Fujairah oil product inventories 
  • Fujairah’s overall oil product inventories soared to 30.262 million barrels in the week to May 18, above the previous record of 27.859 million barrels in the week before.
  • Inventories for middle distillates and those for residual fuels also rose to records in the week...

https://mfame.guru/fujairahs-oil-product-inventories-soared-to-30-262-million-barrels/

Aegean Maritime’s Alleged $300m Sham Detailed in New Lawsuit

A $300 million lawsuit has been filed with the United States District Court for the Southern District of New York against four former directors of Aegean Marine Petroleum Network Inc., reports Safety4sea.

According to the lawsuit the defendants breached their duties and let Dimitris Melissanidis enrich himself and his family at the company’s expense.

Alleged financial fraud of Aegean Marine

US court documents detail the extent of the alleged financial misappropriation of Aegean Marine’s cash and...

http://mfame.guru/aegean-maritimes-alleged-300m-sham-detailed-in-new-lawsuit/