Swiss-based oil trader Vitol is in talks with the government of Fujairah in the United Arab Emirates to buy a mothballed 100,000 barrels per day oil refinery, industry sources said on Tuesday. "They are in negotiations for the refinery," one industry source familiar with the matter said.A Vitol executive in Geneva and Fujairah government officials were unavailable for comment on Tuesday.
The refinery was forced to shut down when its former owner, Metro Oil Corp, went bankrupt in February 1998. It has been used in the last few years for oil storage.Fujairah, on the Gulf of Oman just outside the shipping chokepoint of the Strait of Hormuz, is one of the world's largest ship refuelling centres. Source
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