SINGAPORE: Qatar Petroleum for the Sale of Petroleum Products Company (QPSPP), has recently concluded a 5-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 6 million barrels of Low Sulfur Condensate per year starting in July 2019.
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This supply agreement is the first condensate long-term sale to an end-user in Singapore, highlighting QPSPP push for more direct sales with established end-users.
Highlighting the importance of this deal, His Excellency Mr. Saad Sherida Al-Kaabi, Minister of State for Energy Affairs and President & CEO of Qatar Petroleum 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.”
His Excellency Mr. Al-Kaabi added: “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 is home to ExxonMobil’s largest refinery and petrochemical complex.”