The Dubai subsidiary Lukoil Marine Lubricants (Lukoil) has renewed its three year agreement with Kuwait Oil Tanker Company (KOTC), the subsidiary of Kuwait Petroleum Corporation (KPC)
As per the contract terms, Lukoil will supply KOTC’s 24-strong fleet consisting of very large crude carriers (VLCC’s), product carriers, liquefied petroleum gas (LPG) carriers, and bunker vessels, for the next three years.
The official signing took place at KOTC office headquarters in Kuwait by June Manoharan, the director of Lukoil Marine Lubricants and Ali Shehab, the CEO of KOTC.
The KOTC CEO said, “Though our business relationship with Lukoil has been brief thus far, the company and its personnel have demonstrated nothing short of first-class quality with both their marine lubricant product, and the excellent services they have provided us with during our three-year collaboration.”
Jihad Al Bannay, the acting manager for KOTC, added, “Managing an extensive fleet, we are continually seeking optimisation methods to enhance our operations. This is not just for the benefit of our business, and to the advantage of our clients, but also for the well-being of the environmental landscape.”
“Since 2015, Lukoil has helped us achieve this by repeatedly proving their innovative and technological expertise within the industry. This is something we are deeply appreciative of, and it was a major factor which contributed to our ability to easily agree upon a contract extension,” he concluded.
