Oman Oil Marketing Lubricants this morning signed an agreement with Hass Petroleum Group, one of East Africa’s leading oil marketing companies, to start selling its lubricants in Kenya as part of its strategy to increase their exportation.
In line with the partnership, which was signed by David Kalife, Oman Oil Marketing Company CEO and Issa Sheikh Mohamed, CEO of Hass Petroleum Group, the specially formulated Omani lubricants will be sold in the Kenyan starting July 10th, 2018.
David Kalife, Chief Executive Officer of Oman Oil Marketing Company said, “A key component in our growth strategy moving forward is focused on identifying new business leads and expanding the geographical reach of our products beyond Oman’s borders. 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 neighboring countries.”
As the most developed nation in East Africa, Kenya boosts tremendous business opportunities supported by its location and strong logistic infrastructure, making it an ideal port for imports to inland countries. Building on this strategic advantage, Oman Oil Marketing Company plans to expand its distribution network from Kenya to neighboring countries including Uganda, Tanzania, and the Democratic Republic of Congo.
Issa Sheikh Mohamed, Chief Executive Officer of Hass Petroleum Group said, “The Kenyan lubricants market is valued at about USD 180 million to our economy annually, most of this, noticeably coming in from the transport and industrial sectors. This partnership will cement Hass petroleum group’s stake in this lucrative market by providing unique additive formulations for excellent engine protection recommended by major equipment manufacturers of modern personal and commercial vehicles now common in our market.”
Oman Oil Marketing Company produces high-quality lubricants that sold across the Middles East, North Africa and Indian sub-continent including Bahrain, Yemen, Ethiopia and Bangladesh and also plans to set up 40 new outlets by the end of 2018.