Tasweeq & Idemitsu Sign New MoU…

Qatar International Petroleum Marketing Company (Tasweeq) and its Japanese partner Idemitsu, celebrating 35 years of business ties, signed a new Memorandum of Understanding (MOU) to provide a platform for the exchange of training and development programmes connected to operations and management of the downstream oil industry.

Tasweeq held a special event to mark 35 years of business relations with Idemitsu recently. Set up in 1911 in Moji, the Japanese company is doing business in petroleum refining, manufacture and sale of oil products for over 100 years. HE the Minister of Energy and Industry, and Tasweeq Board of Directors Chairman, Dr Mohammed bin Saleh Al-Sada and HE the Ambassador of Japan to the State of Qatar Shingo Tsuda attended the event.

Idemitsu Representative Director and Chief Executive Officer Takashi Tsukioka and senior executives and directors from Tasweeq, Qatar Petroleum and Idemitsu also attended the ceremony held April 3, Tasweeq said. Hailing Qatar-Japan business ties, Tasweeq’s Chief Executive Officer and Board member Saad Al-Kuwari said, “We are so proud of our business relations with Idemitsu which continue to grow and flourish. In addition to crude oil, Tasweeq also supplies other products to Idemitsu.” Speaking at the event, Tsukioka thanked HE Dr. Al-Sada and Tasweeq’s management for their support to Idemitsu.

“I’m so delighted and honoured to celebrate the 35th anniversary of our business tie-up. The total volume of Qatar crude transferred during these 35 years has reached almost 500 million barrels. This is a testament of our strong and enduring relationship which I hope will continue for many years to come,” said Tsukioka. Business relations particularly in energy, rank high between Qatar and Japan bilateral relationship.

Idemitsu and Qatar ties initially began through Qatar Petroleum in 1979, when the first shipment of Qatar crude oil reached the shores of Japan. In 1988, a long-term contract for the supply of Qatar crude oil was established. This relationship was carried through by Tasweeq in the recent years and the term contract is now in its 25th year. Source: QNA