ADNOC appoints Chemlube to sell its Group III base oils in Europe

Abu Dhabi National Oil Company (ADNOC) has signed an exclusive agreement with Swiss company Chemlube SA to distribute Group III base oils in Europe.

The agreement was signed by Abdulla Salem Al Dhaheri, marketing, sales and trading director at ADNOC, and Robert Nobel, managing director, of Chemlube SA.ย  Following the signing ceremony, ADbase, the new ADNOC base oil brand was officially launched at a gala event, held at the Shakespeare Globe Theatre, in London, yesterday.

โ€œThe signing of the European sales agreement and the launch of the ADbase brand underline ADNOCโ€™s commitment to achieving the best commercial value from its crude and petroleum products, through innovative and competitive marketing strategies, expansion of our client base and penetration of new markets,โ€ said Al Dhaheri.

The Abu Dhabi-based company is pursuing a strategy to increase value from its downstream refining and petrochemical operations, with plans to expand its client base and penetrate new markets, such as Europe, where Group III base oil dominates the market.

ADNOC Refining, an ADNOC subsidiary, produces up to 500,000 metric tonnes per year of Group III base oil at its Ruwais refining and petrochemicals complex. Murban, Abu Dhabiโ€™s light, high paraffinic crude, is the only source of feedstock for the plant in Ruwais.

The latest deal follows a similar agreement signed with Penthol CV to be its exclusive distributor in the United States, which is a predominantly Group II market.