Dubai – Mubasher: Emirates National Oil Company (ENOC Group) on Wednesday announced that it has entered into a strategic partnership with Indian Oil Company (IOC), the largest commercial oil and gas company.
The partnership will help ENOC expand its network to over 180 ports in 28 countries and develop high-end marine products together to tackle International Maritime Organization (IMO) 2020 Sulphur-cap, Dubai's state-run oil firm said in a statement.
“The marine oil industry is becoming more eco-conscious as international regulators set standards to control air pollution from ships. With tighter restrictions in designated emission control, ship owners, marine oil manufacturers and suppliers need to work together to ensure greater quality control,” Saif Humaid Al Falasi, CEO of ENOC, said.
The partnership includes also research and development (R&D) efforts to jointly develop cylinder oil compliant to the Sulphur cap of 0.5% from the current 3.5%.
The deal aims to reduce the Sulphur contents currently present in oil used to fuel ships to reduce the impact of pollution on populations living close to ports and coasts specifically.
The deal will enable ENOC to obtain approvals from existing manufacturers in the Indian Subcontinent more swiftly, through IOC’s R&D centre, which is sought to be one of the largest centres in Asia.
“The ENOC Group-IOC alliance is one of biggest collaborations within the marine lubricant industry with both entities within the sector jointly offering greater value proposition for its customers,” the statement highlighted.
