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Gulf Petrochem secures deal to sell IPOL lubricants in UAE and Oman

23 Aug 2016 13:05 GMT

Sales target of 100 metric tonnes per month has been set for each market.



Gulf Petrochem Group - a bunker seller in the UAE, Netherlands, Singapore, India and Sri Lanka - has announced that it has reached an agreement to distribute India's IPOL brand of lubricants in UAE in partnership with NGC Energy, UAE, and in Oman in association with National Gas Company SAOG, Oman, following successful negotiations.

The partnerships, which have been signed for a period of five years, will bring together NGC Energy and its Oman-based parent organisation, National Gas Company SAOG, and Gulf Petrochem Group.

Operations began in the second quarter of 2016, with National Gas Company SAOG and NGC Energy recruiting additional sales staff and developing infrastructure facilities, including warehouses and delivery vehicles as part of the agreement.

Gulf Petrochem Group Director, Prerit Goel, who signed the agreement on behalf of the group, 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 the UAE and Oman. We believe there is a huge market in the region for IPOL, which is specifically tailored for industries, and in partnering with National Gas Company SAOG and NGC Energy, we have secured business with trusted firms who share our ambition and drive."

Both partners have already set targets of 100 metric tonnes per month of lubricant volumes each in both the UAE and Oman by the end of the first year of trading.

General Manager of National Gas Company SAOG, Mr Nalin Chandna, remarked: "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 the UAE and Oman and we are delighted to be able to distribute the product there."

Gulf Petrochem Group's business activities are divided into six divisions: refining, storage terminals, trading and bunkering, bitumen, lubricants and grease manufacturing, shipping and logistics.




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