Malaysian storage and blending operator KIC Oil and Gas Ltd signed a lease agreement with Westport Bunkering Services for its bunker terminal in Port Klang, Malaysia’s biggest port.

The agreement is for a period of 10 years, with an option to extend the contract for another 10 years.
KIC will take over the lease from ChevronTexaco’s Fuel and Marine Marketing (FAMM), which has been operating the 196,000-cubic-m bunkering and storage facility since late 2002.
The fuel oil from the terminal is for Malaysian oil firm Petronas, KIC’s chief executive officer Abdul Rashid Isa said.
The Westport terminal will raise KIC’s combined storage capacity to more than 450,000 cubic m. KIC operates a Very Large Crude Carrier off Tanjung Pelepas with a capacity of 270,000 tonnes, as a floating storage and blending facility for fuel oil.