The Emirate-based Gulf Petrochem Group signed a 5-year agreement to distribute Indian IPOL brand of lubricant in the United Arab Emirates, with operations slated to fully commence during the third quarter of 2016, Reuters reported.
Gulf Petrochem partnered with Malaysian NGC Energy and its parent Oman-based organization, National Gas Company SAOG, on the project that has a set monthly target of 100m tons of lubricant volumes each in the UAE and Oman, by the end of the first year of trading, according to Business Standard.
National Gas Company SAOG General Manager, 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. ”
India’s GP Petroleums Ltd manufactures and markets industrial & automotive lubricants, process oils, transformer oils, greases and other specialties under the brand name IPOL.