Media ININ Economy We Trust
Media In 23-04-2019 / WAM
Abu Dhabi National Oil Company (ADNOC) announced today that it has signed a long-term agreement with Indian Oil Corporation Limited, an important end consumer, to sell its high-quality essential oils “ADbase” in the Indian market.
“The signing of this important sales agreement with a major consumer and distributor of essential oils in one of the growing markets is another milestone for quality and reliability,” said Ahmed Bin Thalith, Acting Vice President of Refining Products Sales at ADNOC Marketing, Logistics and Trade. “We are looking forward to working with the Indian Oil Corporation to increase our core oils in the Indian market, which is constantly growing in demand for these high quality products and final lubricants.”
Indian Oil is one of the leading oil and gas companies listed in Fortune’s list of the top 500 companies in India. “The company is the largest lubricant lubricant manufacturer in the Indian market with a sales volume of approximately 450,000 tons a year. Which is growing at a rate of 2.4% per annum, and Indian Oil, ADBOC’s primary oils, is used to manufacture advanced engine oils for the growing Indian automotive sector.
“The Indian Oil Corporation is a long-term partner of ADNOC, and we look forward to building and building relationships between the two companies to enhance our synergies. “Adbase”, along with strong logistical support and distinctive geographical location of the UAE near India, are key factors in our decision to sign this agreement. “
The move follows ADNOC’s recent agreement with Xiamen Sinolok Oil to supply ADBOC’s Adbase essential oils to China and the 2017 and 2018 agreements with Penthol Ltd. and Chemelope SA to supply US markets And European products with high quality.
