(MENAFN - Kuwait News Agency (KUNA)) Emirates National Oil Company (ENOC) on Monday inked a contract with the Qatar International Petroleum Marketing Company Ltd. (Tasweeq), whereby the latter would supply 20,000 barrels of condensate to ENOC's Jebel Ali refinery. Under the annual contract, the ENOC shall explore new condensate suppliers to ensure a steady supply of refined products and to fulfill the growing domestic requirement for fuel products in Dubai.
The contract was inked by Managing Director of ENOC's Supply, Trading and Processing Tayyeb Al Mulla and Chief Executive Officer of Tasweeq Saad Abdulla Al Kuwari.
Commenting on the contract, Khoory said: "We are committed to identifying new sources of condensate for the optimal operations of our refinery. Further strengthening our established partnership with Tasweeq, the new contract will add to our operational efficiencies and enable us to meet the growing demand for fuel products in Dubai." "To meet our business and organizational growth goals, we are looking to strengthen the volume of spot cargo from third-party suppliers in the Gulf region and Far East to manage our import pipeline in line with governmental guidelines," he added. For his part, Al-Kuwari remarked: "We are honored to strengthen our partnership with ENOC.
We share strong synergies with the company, and the new contract highlights the growing role of Tasweeq in supporting the requirements of our partners in the Gulf region as well as other international markets."