ENOC Group, Indian Oil Company signs joint partnership
The ENOC Group-IOC alliance is said to be one of biggest collaborations within the marine lubricant industry
The UAE’s ENOC Group is partnering with India’s largest commercial oil and gas company, Indian Oil Company (IOC) in a joint effort to expand its global footprint while building on IOC’s R&D infrastructure.
The partnership includes R&D efforts to jointly develop cylinder oil-compliant to the Sulphur cap of 0.5 percent from the current 3.5 percent, ENOC said. The company stated that the environmental impact of these efforts on ocean transportation will have technical, operational and commercial consequences.
ENOC also said that the agreement will enable them to expand their presence to over 180 ports in 28 countries to provide their customers with high-end marine lubricants and technical services.
HE Saif Humaid Al Falasi, Group CEO, ENOC, said: “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.”
“ENOC’s alliance with one of the world’s biggest oil and gas companies, IOC, will help mitigate these environmental risks through world-class research & development and manufacturing that meets the IMO standards,” he added.
Under the terms of the partnership, ENOC will be able to obtain approvals from existing manufacturers in the Indian Subcontinent more swiftly, through IOC’s R&D centre. The partnership is said to be one of the biggest collaborations within the maritime lubricant industry with both entities within the sector jointly offering greater value proposition for its customer, ENOC reported.
