Vitol acquires majority interest of Fujairah Refining Facility
The Fujairah Petroleum Company and the Vitol Group of Companies are pleased to announce that Vitol has acquired a majority interest in the Fujairah Refining Company Limited ( FRCL ) facility in Fujairah.
Further to a meeting yesterday between H.H. Sheikh Hamad Bin Mohamad Al – Sharqi, Ruler of Fujairah, and Mr Ian Taylor, President of the Vitol Group of Companies, an agreement was reached to acquire a majority of shares in the company. During the meeting Vitol also confirmed that they looked forward to working more closely with the Government in enhancing the strategic role of Fujairah in the regional and international energy markets.