The United Arab Emirates' Brooge Petroleum and Gas Investment Co (BPGIC) plans to boost crude oil storage capacity in Fujairah, an industry source close to the matter discussed earlier this week.

The company is expected to sign an agreement with a consultant to expand its storage capacity by 2 million to 3.5 million cubic metres, and will start construction in the fourth quarter of the year, the source said.

That amount is in addition to existing storage capacity of 1 million cubic metres for crude and oil products, the source said. BPGIC did not immediately respond to a request for comment.