Gulf Oil, Dabbagh JV acquires Petromin, KSA

Gulf Oil, Dabbagh JV acquires Petromin, KSA

BS Reporter / Mumbai November 12, 2007

Gulf  Oil International, a Hinduja Group company, along with its joint venture partner Dabbagh Group in Saudi Arabia, has acquired Petromin, the largest manufacturer of lubricants in the Kingdom of Saudi Arabia (KSA).

Petromin is a joint venture between Saudi Aramco (71%) and Mobil Investments (29%), an affiliate of Exxon Mobil, and has annual sales of 80,000 MT and a turnover of  over Rs 780 crore.

Petromin is the largest manufacturer of lubricants in the Kingdom of Saudi Arabia and exports to over 20 countries.

Speaking on the occasion Sanjay Hinduja, chairman Gulf Oil International said: