Media ININ Economy We Trust
Media in\ Dubai 20-20-2019
ENOC has announced a strategic alliance with the Indian Oil Corporation, India’s largest commercial oil and gas company, worth US $ 63 billion, as part of efforts to expand the Group’s global footprint and address future industrialization challenges through Utilizing the innovative infrastructure of the Indian Petroleum Corporation, specialized in research and development.
The alliance, which brings together ENOC and the Indian Oil Corporation, aims to launch joint research and development efforts to produce oil drums that comply with IMO’s maximum use of sulfur at 0.5 per cent instead of the current 3.5 per cent. These efforts are widespread at the technical, operational and commercial level.
“The marine oil sector is more aware than ever about sound environmental practices,” said Saif Humaid Al Falasi, ENOC Group Chief Executive Officer. He attributed this to the efforts of international organizations to develop standards to reduce air pollution from ships. With stricter controls on emissions, shipowners, marine oil industry and suppliers must work together to achieve greater quality control.
The agreement will enable ENOC to strengthen its presence to more than 180 ports in 28 countries, enabling it to provide customers with oil and lubricants for shipping and advanced technical services.
As the International Maritime Organization (IMO) deadline to reduce sulfur use in marine fuels approaches in January 2020, shipowners are seeking to comply with FAO standards within the next 12 months.
IMO aims to reduce the sulfur content used in marine fuels to reduce its impact on populations living near ports and coasts in particular.
The partnership will also allow ENOC Group to obtain the approval of engine manufacturers in the Indian subcontinent more easily and over a shorter period of time through the R & D Center of the Indian Petroleum Corporation, which is one of the largest research and development centers in Asia.
