ABU DHABI, UAE – ADNOC Distribution, a leading fuel retailer, announced today the signing of a significant agreement with Hindustan Petroleum Corporation Limited (HPCL), one of India’s prominent fuel retailing and lubricant marketing companies. The agreement solidifies the shared vision of both entities to explore avenues for expanding their international lubricants and allied products businesses in the UAE, India, and other potential markets.
India, with its annual demand of three billion liters, stands as one of the world’s most significant lubricant markets. ADNOC Distribution seeks to tap into this dynamic market by gaining access to HPCL’s extensive network of over 28,000 retail stations.
Bader Saeed Al Lamki, CEO of ADNOC Distribution, expressed his enthusiasm, stating, “This agreement exemplifies our strategic approach to collaborating with leading partners on a global scale. Leveraging HPCL’s strong performance record of over a century, we aim to establish a robust presence in India, one of the world’s largest and rapidly expanding markets. Today’s announcement marks a significant milestone in ADNOC Distribution’s international expansion journey as we strive to strengthen our position in key lubricant markets worldwide.”
The agreement lays the foundation for both companies to foster mutually beneficial cross-border business synergies. They will leverage their respective local market capabilities and infrastructure to enhance the efficiency of their overseas lubricant operations, including lubricant supply and access to crucial logistical and marketing support services.
Sanjay Kumar, Executive Director and Head of Lubes SBU, HPCL Middle East FZCO, expressed his excitement about the partnership, saying, “We are thrilled to embark on this journey with ADNOC Distribution. Their production and marketing capabilities make them the ideal partner for us to expand our business and footprint in international lubricant markets.”
In line with ADNOC Distribution’s international growth strategy, this agreement paves the way for joint exploration of opportunities to enter new and emerging markets. The companies are targeting ten key countries in 2023 for the development of their respective businesses.
With this strategic collaboration, ADNOC Distribution and HPCL are poised to unlock new growth prospects and strengthen their positions in the global lubricant market, setting the stage for future success and innovation in the industry.