An agreement has been signed with Switzerland-based Dutch oil giant Vitol to supply all oil to the State Trading Organization (STO).
STO confirmed that an agreement had been signed, but declined to provide details.
While STO has switched to buying oil from Vitol, the company previously had a deal with Oman's national oil company, OQ. The agreement with OQ was signed when Hussain Amr was STO's Managing Director.
Before the agreement with OQ, STO purchased oil from Saudi Aramco and private traders.
Meanwhile, Vitol was also appointed as the exclusive supplier of the bunkering services due to begin in the north of the Maldives. Reports say the two bunkers being brought by STO were used by Vitol in Singapore.
The inauguration of bunkering services has been postponed on numerous occasions. The government last announced September 12 as the date for launching the service in the Ihavandhippolhu region.
