Oman Tank Terminal Company (OTTCO) said it has awarded three companies access to a 2.1 million barrels of crude floating storage facility that would boost trading in crude oil futures on the Dubai Mercantile Exchange (DME). The facility, which will be at Oman's Mina al-Fahal, will help to increase monthly trade volumes on the DME and also help to curb price volatility, trade sources told Reuters in April.
OTTCO, majority owned by the state-run Oman Oil Company (OOC), is a joint venture between OOC and Takamul Investment Company.