Abu Dhabi – Mubasher: The Abu Dhabi National Oil Company (Adnoc) on Tuesday signed a long-term sales agreement with the Indian Oil Corporation (IndianOil).
Under the agreement, Adnoc will provide the Indian company with its high-quality base oil (ADbase), the Emirates News Agency (WAM) reported.
“We look forward to working with IndianOil and to increasing the supply of ADbase to the Indian market,” acting senior vice president of refined products sales at ADNOC’s marketing, supply, and trading directorate, Ahmad bin Thalith, said.
IndianOil will use the ADbase oils to manufacture high-end engine oils for the Indian growing automotive sector, WAM revealed.
Executive director of Lubes at IndianOil Subimal Mondal commented: "The high quality of ADNOC’s ADbase product, combined with strong logistics support and the proximity of the UAE to India, was key in our decision to sign this agreement."
Adnoc’s refining unit produces up to 500,000 metric tonnes per year of Group III base oil and around 100,000 metric tonnes per year of Group II base oil at Ruwais refinery.
