– GP Petroleums IPOL lubricant to be distributed in UAE and Oman
– Partners UAE’s NGC Energy and Oman’s National Gas Company SAOG
– Operations to fully commence in Q3 of 2016
– Targets 100 MT/month volume in the UAE and Oman by the end of the first year of trading
Gulf Petrochem, a UAE-based leading player in the oil sector, today said it will distribute Indian subsidiary GP Petroleums Ltd’s iconic IPOL brand of lubricant in the UAE and Oman, in partnership with NGC Energy and with National Gas Company SAOG, Oman over a period of five years.
Both partners have already set targets of 100 MT/month of lubricant volumes each in the UAE and Oman, by the end of the first year of trading.
Gulf Petrochem Group Director, Mr. Prerit Goel, who signed the agreement on behalf of GPC, said: “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.
General Manager of National Gas Company SAOG, Mr Nalin Chandna, 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.”
About Gulf Petrochem Group
Gulf Petrochem Group is a leading global player in the oil industry, with a turnover of about USD 3 billion, specializing in Oil Trading and Bunkering, Oil Refining, Grease Manufacturing, Oil Storage Terminals, Bitumen Manufacturing, and Shipping and Logistics. Headquartered in United Arab Emirates, and having a presence in South Asia, the Far East Asia, Africa and Europe, Gulf Petrochem has emerged as one of the well-established manufacturers and traders of petroleum products in major parts of the world.
About GP Petroleums Ltd.
GP Petroleums Ltd., India, is an ISO 9001:2008 & EMS 14001:2004 certified company, specializes in designing, manufacturing and marketing, industrial & automotive lubricants, process oils, transformer oils, greases and other specialties under the brand name IPOL in India and internationally for more than four decades.
The IPOL brand of GP Petroleums has established itself as one of the well accepted industrial and automotive lubricants in India with a wide network of Distributors and Dealers in the country. The company has well equipped manufacturing facilities, with automated filling & packaging stations. GP has invested in high precision quality-control and product development labs to meet the growing needs of premium lubricants.
GP Petroleums plants in India has an annual production capacity of 80,000 KL. Their in-house Base Oil Storage facility of 15,000 KL is one of the largest in the Indian industry, which ensures consistency of quality and supply security.