Egypt strikes big deal with Persian Gulf oil company

The Oman Oil Company has secured a major lube oil deal with Egypt as Oman Oil Marketing Company announced it has signed an agreement with Alexandria Petroleum Additives Company (ACPA).

According to the Omani newspaper Al-Shabiba, the signing took place in the presence of engineer Tariq Al-Mulla, Minister of Petroleum and Mineral Resources of Egypt, Abdullah bin Nasser Al-Rahbi, Ambassador of the Sultanate of Oman accredited to the Arab Republic. of Egypt, and Tariq bin Muhammad Al Junaidi, CEO of Oman Oil Marketing Company.

Through this collaboration, ACPA will become the marketing and sales hub for Oman Oil Marketing Company’s oils and lubricants in Africa.

The fuel marketing leader in Oman also signed a memorandum of cooperation with Misr Petroleum Company for the production and supply of lubricants and oils.

The signing ceremony took place during the Egypt International Petroleum Conference 2023, one of the most colorful annual events in the oil and gas sector, which is held under the auspices of His Excellency Abdel Fattah Al-Sisi, President of the Arab Republic of Egypt. Oman Oil Marketing Company’s expansion in Egypt aims to enhance the company’s growth, distribution and presence on the African continent in line with its plans to capitalize on the opportunities available on the African continent, in conjunction with its current business in Tanzania.

Commenting on this, Tariq Al Junaidi, CEO of Oman Oil Marketing Company, said: “High quality lubricants are one of the most sought after products in the oil and gas value chain, providing more room for further growth and development. I am confident that our cooperation with Alexandria Petroleum Additives Company and Misr Company “Oil will allow us to increase our market share, as well as strengthen and strengthen the framework and bridges of joint cooperation between Egypt and Oman. Expanding our operations to new countries will drive economic growth as part of our relentless efforts to play a major role in the growth of the Sultanate of Oman through our expansion strategy.”

It is worth noting that the conclusion of these agreements, in addition to participating in the Egyptian International Petroleum Conference and Exhibition in 2023 AD, underlines the commitment of Oman Oil Marketing Company to strengthen its leadership in the fuel marketing sector. The company currently sells lubricants in more than 17 countries in Asia, the Middle East and North Africa. As part of its expansion strategy, the company has filling stations in the Sultanate of Oman, the Kingdom of Saudi Arabia and Tanzania.

Source: Al-Shabiba newspaper.