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BUNKER INDEX :: Price Index, News and Directory Information for the Marine Fuel Industry
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ENOC and Enemed sign MoU to explore growth opportunities

ENOC CEO sees 'Mediterranean hub for shipping' as opportunity to expand global presence and meet rising fuel demand.



Image credit: Unsplash


Updated on 02 Oct 2018 12:52 GMT

ENOC Group has signed a memorandum of understanding (MoU) with Enemed - Malta's state-owned supplier of land, aviation and marine fuels - to explore growth opportunities in Malta and potential areas of cooperation between both companies.

The plans are said to be in line with ENOC's strategy to expand its global presence in fuel supply and distribution.

Saif Humaid Al Falasi, Group CEO of ENOC, remarked: "Malta's strategic location at the crossroads of some of the world's busiest routes that carry over 120 million tonnes of oil products positions it as a global Mediterranean hub for shipping. This presents ample opportunity for us at ENOC to forge strategic partnerships to expand our global presence and strengthen our operations meet the increasing demand for fuel.

"Our partnership with Enemed will not only reinforce our growth plans in Malta, but will also strengthen UAE-Malta bilateral ties."

Established in September 2014, Enemed is a wholly owned subsidiary of the state-owned Petromal Company Ltd. It is responsible for the import, distribution and wholesale of petroleum products, and supplies fuels to vehicles, marine vessels and aircraft.

Additionally, Enemed also offers storage facilities to third-party firms that mainly operate in the marine sector.






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