BAKU, Azerbaijan, Dec. 10
By Leman Zeynalova – Trend:
Indian Oil Corporation (IOC) will provide aviation fuel to ENOC Group (United Arab Emirates) customers flying to and from 34 Indian airports, Trend reports with reference to ENOC.
The services will be provided under the evergreen aviation fuel supply agreement signed between the two companies.
ENOC’s partnership with IOC also includes one of the largest collaborations in the global marine lubricant sector. The two entities are leading joint R&D efforts to develop cylinder oil that is compliant with the International Maritime Organisation’s regulation capping the global fuel sulphur limit at 0.5 per cent, effective January 1, 2020, thereby contributing to technical, commercial, operational and environmental efficiencies in ocean transportation.
Carriers in India and the UAE fly a total of 134,441 aircraft seats a week each way, according to existing bilateral rights.
The robust aviation ties between the two nations is further complemented by consistently growing trade ties with the non-oil trade between the two nations at $35.9 billion in 2018.
The UAE is the largest Arab investor country in India valued at around $10 billion while the nation is home to over 3.3 million Indians.
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