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LEAVE A COMMENT Your email address will not be published.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*
Lira rebounds after Turkey ditches cheap bank funding
SoftBank back to black with $12bn profit after record losses
Virus-hit Singapore’s Q2 recession deeper than estimated
Most Asian markets extend gains with eyes on trade talks
Hong Kong’s wealthy investors stay put with crisis plans ready
Gold heads for biggest drop since 2013 with risk appetite rising
Struggling US economy gets only limited help from Trump actions
Buffett shows faith in Berkshire with record stock buybacks
Job losses hit decade-high in UK; worse seen ahead