Zenath Oil Derivatives LLC signs main product distributorship agreement with ADNOC Distribution

Mr. Jamal Jaber Al Dharif, General Manager, ADNOC Distribution and Mr. Khalid Abdulla Al Ghurair, Director, Zenath Oil Derivatives L.L.C at the headquarters of ETA-ASCON GROUP in Dubai, signed the agreement. High ranking officials of ADNOC Distribution including Mr. Mohamed Obaid Al Dhaheri, Corporate Sales Division Manager, Mr. Nasser Al Hammadi, Retail sales Division Manager, Mr. Rashid Al Darmaki, Lubricants Local Sales Dept Manager and the top management executives from ETA-ASCON including Mr. Abdulla Al Ghurair, Chairman and Mr. Syed M Salahuddin, Managing Director, were present at the signing ceremony.

Mr. Jamal Al Dharif expressed ADNOC Distribution's satisfaction in working with Zenath Oil Derivatives and ETA-ASCON Group for the past one year where Zenath has always exceeded the sales targets set by ADNOC Distribution, a major supplier to Zenath during that period. "In addition to being really happy with our relationship, we realize that there is much more potential to increase the co-operation between us in more related fields," said Mr. Jamal Al Dharif.

Mr. J.S.A. Bukhari Group General Manager of Zenath stated: "We are proud to further strengthen our relationship with ADNOC Distribution with this agreement. Our experience in the fuels sector and track record of successful industrial relations were the keys to winning ADNOC Distribution's trust.

During the last one year Zenath intensified its main products sales and managed to promote the sale of ADNOC Distribution's diesel in large quantities to various sectors such as manufacturing, construction, transportation and shipping with clients numbering to 250.

"Inspite of high increase in oil prices experienced in the last one year, customers have always co-operated with ZENATH and it has no payment problems. Similarly, Zenath's suppliers are also happy with its business style. Customer satisfaction ranks high with Zenath which maintains its own fleet of tankers, workshop and an efficient logistics department and ensures that comprehensive service is provided to all customers such as provision of storage tanks and accessories free of charge, as and when required by its clients," added Mr. Bukhari.

Zenath, already the largest distributor of petroleum products in UAE and selling diesel around 5 million IGS per month is confident of doubling the quantity of sale of ADNOC Distribution's products in the coming years, taking into consideration the growth in UAE in general and in the Emirate of Dubai in particular. Due to the current instability in the oil market, coupled with increase in the international oil price, major petroleum companies have been unable to continue main product supplies. In this situation only a few local companies are committed to serve the local UAE market irrespective of market scenario and ADNOC Distribution is the only major producer and manufacturer committed to serve the market.

ADNOC Distribution being more concerned about environment is already on a drive to improve its high quality diesel with 0.25 percent of sulphur, which will reduce the cost of lubricants used in vehicles and machineries.