Following supply disruptions triggered by Middle East conflicts, the energy heavyweight is exploring additional crude storage capacity to augment its existing tank infrastructure across Europe and Asia.

Valerie Zhou, an advisor for strategy and markets at the company, stated during a Dubai conference that the firm is actively scouting for further storage resources worldwide. The escalating client demand for reliable oil transportation has made storage assets pivotal in ensuring supply stability.

The corporation already maintains operational storage sites at key global locations, including Fujairah in the UAE, Rotterdam in the Netherlands, Okinawa in Japan, as well as facilities in Egypt that serve the Mediterranean market. The company continues to strengthen its logistics network to safeguard against potential supply chain vulnerabilities.