KOTC Renews Marine Lubes Deal with Lukoil
Dubai-based subsidiary of Lukoil, Lukoil Marine Lubricants has reached a renewal agreement with Kuwait Oil Tanker Company (KOTC), a unit of of Kuwait Petroleum Corporation (KPC), for the supply of marine lubricants.
For the past three years, Lukoil has supplied KOTC’s full fleet of tanker vessels with its specialized product of marine lubricants. The new deal between the two companies will help to build upon the existing foundation of an already solid business working relationship.
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.
Ali Shehab, CEO of Kuwait Oil Tanker Company, 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 Kuwait Oil Tanker Company said, “Managing an extensive fleet, we are continually seeking optimization 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."