Emirati ENOC's Jet Fuel Storage Plans Show How Iranian Sanctions Upending Oil Market

published:23/09/2018 05:40 GMT

Emirates National Oil Company (ENOC) has chartered at least one vessel to store jet fuel to ensure supply to airlines in Dubai as pending U.S. sanctions on Iran have cut off its access to feedstocks for producing the aviation fuel, said several industry sources. ENOC has chartered the Suezmax-sized tankers Portman Square and NS Africa for 30 to 60 days with an option to store oil products, according to two shipbrokers. The company will store jet fuel onboard at least one of the vessels, which...More