Gulf Petrochem to distribute IPOL lubricants in UAE & Oman

The UAE-based Gulf Petrochem will distribute Indian subsidiary GP Petroleums Ltd’s IPOL brand of lubricant in the UAE and Oman, in partnership with NGC Energy and with National Gas Company SAOG in Oman over a period of five years. Both partners have set targets of 100 metric tonne per month of lubricant volumes each in the UAE and Oman, by the end of the first year of trading.

Prerit Goel, group director, Gulf Petrochem, commented, “This partnership seems like a natural step for all concerned and will only serve to enhance the availability of quality products on the market in UAE and Oman. We believe there is a huge market in the region for IPOL, which is specially tailored for industries, and in partnering with National Gas Company and NGC Energy, we have secured business with trusted firms who share our ambition and drive.”

Operations are expected to fully commence in Q3 of 2016, with National Gas Co and NCG Energy currently recruiting additional sales staff and developing infrastructure facilities, including warehouses and delivery vehicles, as part of the agreement.

Nalin Chandna, general manager of National Gas Company SAOG, said, “Since we signed the agreement in September 2015, we have been working together to put all the necessary infrastructure in place, in order to meet our expected demand levels when operations begin. In this time, we have seen similarities in the way we both work and believe our partnership can only be fruitful for all concerned. IPOL is a quality product which suits the market in UAE and Oman and we are delighted to be able to distribute the product there.”

Gulf Petrochem Group, with a turnover of about $ 3 billion, specialises in oil trading & bunkering, oil refining, grease manufacturing, oil storage terminals, bitumen manufacturing, and shipping & logistics. Headquartered in UAE, and having a presence in South Asia, the Far East Asia, Africa and Europe, the group has emerged as one of the well-established manufacturers of petroleum products in major parts of the world.

In India, its subsidiary GP Petroleums Ltd manufactures and markets industrial & automotive lubricants, process oils, transformer oils, greases and other specialties under the brand name IPOL. GP Petroleums plants in India has an annual production capacity of 80,000 KL. Its in-house base oil storage plant of 15,000 kilo litre (KL) is one of the largest facilities in the Indian industry.