Oman plans to boost oil storage capacity

Oman plans to more than double oil storage capacity at a port outside the Strait of Hormuz, seeking to take advantage of its strategic position as energy producers in the region look for alternatives to the highly contested waterway. State energy firm OQ SAOC is evaluating the acquisition of two supertankers to lease out for floating storage at the port of Duqm, CEO Ashraf Al Mamari said in an interview.