Dubai-based Emarat announced last week that it has extended its Emojet joint venture agreement with the ExxonMobil Middle East Marketing Corp. for 10 years. The agreement will increase Emarats controlling interest in the joint venture from 60 percent to 65 percent.
Launched in August 1992 by Emarat andMobil Corp., Emojet was created to market aviation fuels and lubricants at Dubai International Airport. Since that time it has served more than 32 international airline carriers.
This has increased the joint ventures ability to compete with other providers, said Emarat general manager and Emojet joint venture committee chairman H.E. Rashid Al Shamsi. Expanding Emojets investments and setting up strategic alliances with internationally renowned organizations has helped it further enhance its operations and activities, thus supporting the national economy, he said.
The success of Emojets refueling operations at Dubai Airport has led over the years to the setup of similar facilities at the Sharjah International Airport and Fujairah International Airport in the UAE.
Emarat was established by the United Arab Emirates government in 1981 to market and distribute refined petroleum products and natural gas throughout the country and today is a nationalbrand. The joint venture was the companys first step into the regional jet fuel refueling market.