GP Petroleums Ltd. tied up with Repsol to produce and supply the Spanish oil majors lubricants in India.
In July 2014, United Arab Emirates-based Gulf Petrochem Group took a controlling stake in Mumbai, India-based Sah Petroleums Ltd. - maker of the Ipsol brand of lubricants - which it wrapped under its newly formed Indian subsidiary GP Petroleums Ltd.
GP now plans to capitalize on Indias incipient market for premium lubricants - which is driven by the countrys rapidly growing economy - by aggressively marketing Repsols top-tier portfolio.
We are delighted to announce the tie-up with Repsol, a very well-reputed international brand, and we will be marketing their entire product range as part of our portfolio, Gulf Petrochems managing director, Sudhir Goyel, said in a press release last week. With the economy showing recovery, the lubricant segment is expected to witness growth in the future.
Repsol said that GP provides it access to a promising market. We see the Indian market to have great potential. India will be a very important market for us, and this tie-up will help us expand our footprint in this ever-growing economy, said Repsols lubricants director Orlando Carbo. Partnering with GP Petroleums Ltd., a brand with strong presence in the Indian lubricant market, has given us a firsthand advantage in this sector.
GP has blending plants in Vasai, India, and Dama, India, with total finished lube production capacity of around 72,000 metric tons per year. It also has a 17 million liter base oil storage facility that is equipped with remote sensing technology.