Montfort, Private Office acquire Uniper’s oil facility in UAE

Montfort, Private Office acquire Uniper’s oil facility in UAE

UAE - Montfort Group and the Private Office of Sheikh Ahmed Dalmook Al Maktoum have agreed to jointly acquire Uniper’s UAE-based crude oil processing and marine fuel trading business (Uniper Energy DMCC).

The parties agreed to not disclose the agreed purchase price, and the acquisition is expected to be completed in the coming months, subject to regulatory approvals, said a statement.

Uniper Energy DMCC is the market leader in the production and supply of IMO 2020 compliant low-sulphur fuel oils to the Fujairah market – one of the largest and most rapidly growing bunker fuel markets in the world. 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.

Sheikh Ahmed said: “We are excited to be part of this acquisition, which is a key milestone in our infrastructure investment portfolio. We believe that this flagship asset will bring additional expertise and resources to benefit the local production and sale of marine fuels. Fujairah is a major oil trading hub in the Arabian Gulf and strategically a very important destination for global logistics. We believe that through this acquisition, we can contribute to the