Under the agreement, Qatar Petroleum for the Sale of Petroleum Products Company will supply ExxonMobil’s Singapore Integrated Manufacturing Complex with a total of 6mn barrels of low sulphur condensate per year, starting in July 2019
Qatar Petroleum for the Sale of Petroleum Products Company (QPSPP) recently concluded a five-year sale agreement with ExxonMobil Trading Asia Pacific Pte Ltd (EXTAP), a division of ExxonMobil Asia Pacific Pte Ltd based in Singapore.
Under the agreement, QPSPP will supply ExxonMobil’s Singapore Integrated Manufacturing Complex with a total of 6mn barrels of low sulphur condensate per year, starting in July 2019.
This supply agreement is the first condensate long-term sale to an end-user in Singapore, highlighting QPSPP's push for more direct sales with established end-users.
Highlighting the importance of the deal, HE the Minister of State for Energy Affairs and President & CEO of Qatar Petroleum Saad bin Sherida al-Kaabi said, “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.”
“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 home to ExxonMobil’s largest refinery and petrochemical complex,” al-Kaabi added.
LEAVE A COMMENT Your email address will not be published. Required fields are marked*
Specialised, competitive chemical industry can strengthen national GDP
Libya’s NOC says oil production set to rise
South African government to help fund national airline’s rescue
Morgan Stanley warns Nasdaq 100 may fall more than 20% from peak
Mistry family wants to exit Tata Group after rebuff on borrowing
Asian markets track US, Europe rout as restrictions return
Sensex marks longest losing streak in almost two months; rupee weakens
Credit Suisse, UBS fight for China bankers in talent war
Gold investors take new aim at miners with returns falling short