JX Nippon Oil creates lube sales arm in Dubai

JX Nippon Oil & Energy Corp. announced the setting up of a lubricant sales company in Dubai, as part of its effort to expand sales of lubricants in overseas markets. The new wholly owned subsidiary of JX Nippon Oil & Energy Corp. is to be named JX Nippon Oil & Energy Middle East & Africa FZE. JX Nippon is hoping to cash in on growing demand for lubricants in Middle Eastern and African countries, which are expected to grow at an annual rate of five percent. (July 27,2011)