ADNOC signs lubricants agreement with Hindustan Petroleum
ADNOC Distribution, a leading mobility retailer in UAE, has signed an agreement with Hindustan Petroleum Corporation Limited (HPCL), one of India’s largest lubricant marketers and fuel retailing companies.
The agreement highlights the mutual intent of both companies to explore avenues for expanding their respective international lubricants and allied products businesses in the UAE, India and other potential markets.
With an annual demand of three billion liters, India is one of the largest lubricants markets in the world.
“This agreement demonstrates our strategic approach to collaborating with leading partners worldwide. With HPCL’s robust performance record spanning over a century, we aim to establish a strong presence in India, one of the world’s largest and rapidly growing markets. Today’s announcement marks another significant milestone in ADNOC Distribution’s international expansion journey as we strive to enhance our position in key lubricant markets worldwide,” said Eng. Bader Saeed Al Lamki, CEO of ADNOC Distribution.
The agreement establishes a framework for both companies to foster mutually beneficial cross-border business synergies, leveraging their respective local market capabilities and infrastructure, as they enhance the efficiency of their overseas lubricant operations, including the supply of lubricants and access to key logistical and marketing support services.
“We are excited to embark on this journey with ADNOC Distribution. They are the perfect partner for us to build our offering, as their production and marketing capabilities will be instrumental in expanding our business and footprint in the international lubricants’ markets,” said Sanjay Kumar, executive director and head of Lubes SBU, HPCL Middle East FZCO.
The agreement supports ADNOC Distribution’s international growth strategy as both companies will jointly explore opportunities to penetrate new and growing markets, targeting 10 key countries in 2023 to develop their respective businesses.
