Wednesday 24 / April / 2024
Muscat: The Oman Oil Marketing Company has signed an agreement with one of East Africa’s leading oil marketing companies to start selling its lubricants in Kenya starting July 2018.
The agreement was signed by David Kalife, Oman Oil Marketing Company CEO, and Issa Sheikh Mohamed, CEO of Hass Petroleum Group.
This move comes as part of the company’s strategy to increase exports of Oman Oil Marketing Lubricants internationally.
“We are confident that this partnership with Hass Petroleum will not only reinforce the trade relations between the Sultanate and Kenya but also help establish new streams of collaboration between the two nations and other neighbouring countries,” said Kalife.
As the most developed nation in East Africa, Kenya boasts of tremendous business opportunities supported by its location and strong logistics infrastructure, making it an ideal entry point for imports to inland countries.
“The Kenyan lubricants market’s annual contribution to our economy is valued at about $180 million, and most of this noticeably comes from the transport and industrial sectors,” said Mohamed.
Oman Oil Marketing Company lubricants are sold in countries across the Middle East, North Africa, and the Indian sub-continent, including Bahrain, Yemen, Ethiopia, and Bangladesh.
The petroleum company plans to expand its distribution network from Kenya to neighbouring countries such as Uganda, Tanzania, and the Democratic Republic of Congo.
