adnoc signs 10year deal for sale of 528000 tonnes of lpg pa to vitol
Last Updated : GMT 05:17:37
Emiratesvoice, emirates voice
Emiratesvoice, emirates voice
Last Updated : GMT 05:17:37
Emiratesvoice, emirates voice

ADNOC signs 10-year deal for sale of 528,000 tonnes of LPG p/a to Vitol

Emiratesvoice, emirates voice

Emiratesvoice, emirates voice ADNOC signs 10-year deal for sale of 528,000 tonnes of LPG p/a to Vitol

ADNOC signs 10-year deal
Abu dhabi - WAM

The Abu Dhabi National Oil Company, ADNOC, has signed an agreement with Vitol, the world’s largest independent energy trader, for the sale of up to 528,000 tonnes per year of LPG over the next 10 years.

The long-term agreement, backdated to January 1st, 2017, and which will expire on the 31st of December 2026, was signed on the side-lines of International Petroleum Week, currently taking place in London, by Abdulla Salem Al Dhaheri, ADNOC Sales and Marketing Director, and Russell Hardy, a member of Vitol’s Executive Committee.

Al Dhaheri said, "ADNOC has implemented a new strategy toward its LPG sales by negotiating longer term contracts to cope with the oversupply market especially after the Shale Gas Revolution. This agreement, which strengthens the long-standing relationship between ADNOC and Vitol, is a prime example of the innovative and different thinking we are bringing to our business deals. It will create reliable, long-term value and maximise our gas resources to ensure the company is resilient to future fluctuations in the global energy markets."

Vitol is a private company founded in Rotterdam in 1966. It has over 40 offices worldwide and its largest operations are in Geneva, Houston, London and Singapore. Its primary business is the trading and distribution of energy products globally including over 6 million bpd of crude oil and products and 10 million tonnes of LPG annually. Revenues in 2015 were US$168 billion.

Hardy said, "We are delighted to be working with ADNOC on this long-term supply agreement. LPG is an important clean fuel and this will support our growing downstream LPG business."

Vitol’s energy assets globally include over 15.5 million cubic metres of storage across six continents; 390,000 bpd of refining capacity and Shell-branded downstream businesses in 16 African countries, as well as Australia. Vitol also has the only independent, long-standing refinery in Fujairah. Vitol’s customers include national oil companies, multinationals, leading industrial and chemical companies and the world’s largest airlines.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

adnoc signs 10year deal for sale of 528000 tonnes of lpg pa to vitol adnoc signs 10year deal for sale of 528000 tonnes of lpg pa to vitol

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

adnoc signs 10year deal for sale of 528000 tonnes of lpg pa to vitol adnoc signs 10year deal for sale of 528000 tonnes of lpg pa to vitol

 



GMT 05:17 2024 Wednesday ,07 February

Amazon to open first cashierless shop

GMT 10:08 2018 Wednesday ,24 January

Microsoft to open 4 data centres

GMT 19:57 2018 Tuesday ,23 January

Farm-fresh from Kerala to the UAE, in just one day

GMT 05:04 2024 Tuesday ,06 February

Skincare PR Performance Full Year 2017

GMT 00:50 2016 Sunday ,24 April

English Premier League standings

GMT 19:31 2017 Tuesday ,24 October

Hot sectors and in-demand jobs in UAE

GMT 13:02 2017 Wednesday ,04 October

Aramco launches strategic partnership with Malaysian

GMT 16:38 2017 Monday ,08 May

Man held in Oman over shooting

GMT 11:58 2017 Tuesday ,12 September

Hurricane Irma: International efforts in the Caribbean

GMT 08:22 2017 Saturday ,29 July

HM King congratulates Peruvian president

GMT 15:26 2017 Friday ,23 June

Penniless American in UAE

GMT 14:01 2016 Thursday ,19 May

EgyptAir Jet Disappears Over Mediterranean Sea

GMT 08:08 2018 Wednesday ,17 January

US opens London embassy after Trump snubs inauguration

GMT 02:19 2018 Monday ,15 January

Spain to oppose ex-Catalan leader being re-elected

GMT 13:01 2018 Tuesday ,09 January

IOC extends North Korea's Winter Olympics deadline

GMT 12:24 2016 Monday ,12 December

'It's like freedom': Myanmar heavy metal crashes

GMT 09:05 2017 Thursday ,09 November

HRH Princess Sabeeka to patronize forum

GMT 15:05 2016 Monday ,27 June

Fabyland Appoints House of Comms

GMT 04:13 2015 Monday ,16 March

Tourism to restore its previous levels

GMT 08:15 2017 Monday ,30 October

Nissan Leaf Nismo to star
Emiratesvoice, emirates voice
 
 Emirates Voice Facebook,emirates voice facebook  Emirates Voice Twitter,emirates voice twitter Emirates Voice Rss,emirates voice rss  Emirates Voice Youtube,emirates voice youtube  Emirates Voice Youtube,emirates voice youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

emiratesvoieen emiratesvoiceen emiratesvoiceen emiratesvoiceen
emiratesvoice emiratesvoice emiratesvoice
emiratesvoice
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
emiratesvoice, Emiratesvoice, Emiratesvoice