Qatar Petroleum for the Sale of Petroleum Products Company (QPSPP) announced that it has reached a five-year sale agreement with ExxonMobil Trading Asia Pacific (EXTAP), a division of ExxonMobil Asia Pacific based in Singapore, according to a press release.
The supply agreement is considered as the first condensate long-term sale to an end-user in Singapore, as QPSPP is pushing for more direct sales.
Under the agreement, QPSPP will supply ExxonMobil’s Singapore Integrated Manufacturing Complex with a total of 6 million barrels of low-sulfur condensate per year starting from July 2019.
“This is another milestone in our drive to directly reach well-established Asian end-users. Learning the requirements and drivers of the end-user and servicing them to our best ability helps build successful relationships and create further growth opportunity for both parties,” Saad Sherida Al-Kaabi, the CEO of Qatar Petroleum said.
“It is also great to see our relationship with reliable partners such as ExxonMobil extend not only in Qatar but globally. Singapore is an important market for us and is home to ExxonMobil’s largest refinery and petrochemical complex,” he added.