Malaysian Firm to Deliver Diesel, Jet Fuel to Swiss One

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Malaysian Firm to Deliver Diesel, Jet Fuel to Swiss One

AGAPE ATP Corporation (ATPC) said it has entered into two sales and purchase agreements collectively worth $24 billion with Swiss One Oil & Gas AG for diesel and jet fuel. Under the terms of the agreements, its subsidiary ATPC Green Energy will supply EN590 10PPM diesel and Jet Fuel A1 to Swiss One over a […]

AGAPE ATP Corporation (ATPC) said it has entered into two sales and purchase agreements collectively worth $24 billion with Swiss One Oil & Gas AG for diesel and jet fuel.

Under the terms of the agreements, its subsidiary ATPC Green Energy will supply EN590 10PPM diesel and Jet Fuel A1 to Swiss One over a 12-month period plus rolls and extensions, with an initial trial order comprising 200,000 metric tons of EN590 10PPM diesel and 2 million barrels of Jet Fuel A1, ATPC said in a news release.

The trial shipment started in March, the Kuala Lumpur, Malaysia-based company said.

Upon successful completion of the trial, the contract will transition into full-scale supply, with weekly deliveries of 500,000 metric tons of EN590 10PPM diesel and 2 million barrels of Jet Fuel A1 to meet growing global demand, according to the release.

All deliveries will be executed through free-on-board procedures at major international ports. The agreement complies with global quality standards, with SGS or equivalent inspection authorities conducting independent quality assessments to ensure that the fuel meets ASTM/IP international standards, the company stated.

The agreements build upon an earlier initial corporate purchase order signed in February, which laid the foundation for the procurement and supply of refined fuels, including Jet Fuel A1 and EN590 10PPM diesel, the company said. The initial order covered a trial shipment of 100,000 metric tons of EN590 10PPM diesel and one million barrels of Jet Fuel A1, and its successful completion led to long-term structured agreements between the parties.

Dato’ Sri How Kok Choong, founder and global group CEO of ATPC, said, “Our initial [corporate purchase order] with Swiss One Oil & Gas AG was a crucial step in trust and operational efficiency in the oil and gas sector. The transition to a full-scale [sales and purchase agreement] reflects the confidence and trust built between our organizations and positions ATPC as a reliable supplier capable of meeting high-volume fuel demands with consistency and quality assurance”.

Jeff Hattara, CEO of Swiss One Oil & Gas, said, “I would like to express my gratitude to Mr. Steven Huffman, President and Director of Swiss One Oil & Gas Asia Pacific Operations as well as Mr. Magedaragamage, consultant to Swiss One Oil & Gas for their efforts and assistance in [the] Agape venture. Both Mr. Huffman and Mr. Magedaragamage will be onsite to work alongside Agape with the logistics and future operations”.

With the strategic partnership, ATPC said it “reinforces its commitment to enhancing its energy trading portfolio, expanding its market reach, and securing sustainable business growth”.

The move is expected to contribute significantly to ATPC’s revenue streams while aligning with its long-term vision of creating a diversified and future-ready business model, the company said.

APTC describes itself as delivering comprehensive energy-saving solutions that empower companies to drive sustainability initiatives, reduce energy consumption, and achieve their sustainability goals.

According to its annual report, the company is primarily engaged in the health and wellness industry, but is positioning itself for sustainable growth by diversifying its operations into the domain of renewable energy.

To contact the author, email [email protected]

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