The emirate of Fujairah seeks to forge partnerships with all investors to create projects that are both strategic and vital for the UAE, said H.H. Sheikh Hamad bin Mohammed Al Sharqi, Supreme Council Member and Ruler of Fujairah, on Sunday.

Fujairah is a major player in determining oil prices, thanks to its strategic location and its efforts to provide investors with a favourable investment climate and contribute to development and modernisation in all sectors, H.H. Sheikh Hamad said, as he received Martin Fraenkel, President of S and P Global Platts, a leading global energy, petrochemicals, metals and agriculture information provider, and a premier source of benchmark price references.

Thanking Sheikh Hamad and praising his wise directives to modernise investments in the emirate, Platts stressed that the government of Fujairah works to encourage global oil companies and investors.

Earlier today, the Fujairah Oil Industry Zone and S and P Global Platts signed an agreement on publishing oil storage data on a weekly basis starting in 2017.

A number of officials attended the meeting.