Dubai/Mumbai: 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.”
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