The UAE’s oil major, ENOC, has collaborated with Dynamic Fuels, a Spanish company, to bolster and expand its presence in the international market, media reports said.
Saif Humaid Al Falasi, Group CEO, ENOC, told the media, “Maritime and shipping sectors in Europe are crucial for the growth and success of its trade operations, contributing significantly to its GDP and employment rates. In addition, an estimated 90 percent of global trade is transported through shipping; making it a vital component to world trade.”
As a part of the collaboration, ENOC will become the official distributor of its marine lubricant products in Spain.
Furthermore, the Spanish company will carry out all the marketing and distribution of ENOC’s products across different parts of the country. Initially, the company will target places such as the ports of Las Palmas, Gibraltar and Algeciras, the largest in Spain.
The collaboration paves the way for ENOC to offer its wide range of premium marine lubricants products to the international market. The company seeks to reach 900 ports globally. In addition, Dynamic Fuels will be able to use and learn the Dubai-based oil firm’s highly skilled technical expertise in the marine sector.
ENOC was established in 1993 and since then its primary markets are India, Middle East, Africa, and South & Central Asia.
Dynamic Fuels is a subsidiary of Transcoma Shipping, a Spanish shipping and logistics company. Primarily, Dynamic Fuels carry out bunker trading and brokering specifically for businesses related to chemicals, welding gases, marine fuels and lubricants