STO renewed its contract to supply Aviation Fuel and Gas Oil MACL

The State Trading Organization (STO) has renewed its contract to supply Aviation Fuel and Gas Oil to Maldives Airports Company Limited (MACL).

The signing ceremony was held today at the STO head office. The agreement was signed on behalf of STO by its CEO and Managing Director Abdulla Saeed and CEO and Managing Director Mahjoob Shujau signed on behalf of MACL.

Under the deal, 1.5 million barrel of jet fuels and 80,000 barrel of diesel will have to be supplied to MACL by STO in a year.

STO MD Saeed stated that the agreement was renewed since the price of the fuel has been risen up in the global market and therefore rates were revised in the new agreement. He, however, did not disclose the revised price.

STO has been supplying Aviation Fuel and Gas Oil to MACL since 2011. STO uses two tankers, including its own tanker MT Alimas, to supply fuel to MACL.

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Ibrahim Yaafiu

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