UAE's ADNOC, HPCL tie-up to expand lubricants biz
ADNOC Distribution has announced a strategic agreement with Hindustan Petroleum Corporation (HPCL) to expand their lubricants business in the UAE, India, and other potential markets. With India's annual demand for lubricants reaching three billion liters, ADNOC Distribution aims to tap into this significant market through HPCL's extensive network of over 28,000 retail stations.
The agreement establishes a framework for collaboration, allowing both companies to leverage their local market capabilities and infrastructure to enhance the efficiency of their overseas lubricant operations.
ADNOC Distribution's CEO, Bader Saeed Al Lamki, expressed enthusiasm about establishing a strong presence in India, emphasising the milestone in their international expansion journey.
The partnership with HPCL will enable both companies to explore new markets and target 10 key countries in 2023 for business development. The agreement positions ADNOC Distribution and HPCL to capitalise on the growing demand for lubricants and leverage their expertise to expand their reach across borders.The Abu Dhabi National Oil Company (ADNOC) is a globally recognised energy company based in the United Arab Emirates (UAE).
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