(MENAFN- Khaleej Times) The Abu Dhabi National Oil Company (Adnoc) has announced that it has concluded an exclusive agreement with Chemlube, appointing the Switzerland-based company as the exclusive seller of its Group III base oil product 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. Following the signing ceremony, ADbase, the new Adnoc base oil brand was launched in London. The launch was held on the sidelines of the 22nd ICIS World Base Oils and Lubricants Conference.
In line with its strategy to maximise value from its downstream refining and petrochemical operations, 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. Group III base oils are typically used to manufacture top-tier, high-performance, engine oils.
Al Dhaheri said: "The signing of the European sales agreement and the launch of the ADbase brand underline Adnoc'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.
Joe Rousmaniere, Chemlube director of business development, said: "We are excited to be partnering with Adnoc to deliver its high quality Base Oil to our European customers. Our goal is to provide our customers with competitively priced, quality base oils and lubricants to meet their specific requirements. ADbase is the right product to meet our customers' most demanding requirements."
The signing of the Europe Base Oil sales agreement follows a similar agreement with Penthol, a global organisation in the supply and distribution of oil products and petrochemicals, who were appointed as exclusive seller of Adnoc Group III base oil in the US in May 2017.
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