The Emirates National Oil Company (ENOC) announced signing a new evergreen aviation fuel supply agreement with Indian Oil Corporation (IOC), according to Gulf News.
“Our agreement with IOC marks another milestone in our global expansion plans. It also underlines the group’s strong competencies, which is reflected in the success of our ongoing partnership with IOC in various industry sectors, including marine lubricants.” Saif Al Falasi, ENOC CEO, said.
Under the agreement, the IOC will provide aviation fuel to ENOC’s customers flying to and from 34 Indian airports.
It is worth noting that ENOC and IOC has been sharing a strong partnership over the past two years, and the evergreen contract would further foster this partnership.
“With the UAE-India ties gaining momentum, underpinned by strong bilateral trade and partnerships in multiple sectors, the new agreement will further enable us to add value to our aviation customers that link the two nations,” Al Falasi added.
Furthermore, the ENOC-IOC partnership includes as well a collaboration in the global marine lubricant sector. The two companies lead joint research and development (R&D) efforts to develop cylinder oil that is compliant with the International Maritime Organization’s regulation capping the global fuel sulphur limit at 0.5%, effective January 1, 2020.