Saudis Form Lubes Business Group

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Saudi Arabia’s main business association formed a committee this month to promote reforms for the nation’s finished lubricant and base oil markets, charged with tasks such as combatting the use of fraudulent products.

The Federation of Saudi Chambers of commerce announced June 22 that it had formed the National Committee for Lubricants and Base Oils, which held its inaugural meeting on the same day in Jeddah, according to several local news organizations.

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Chairman Samir Nawar said the committee hopes to increase sales volumes for legitimate suppliers by as much as 20% by discouraging use of fraudulent lubricants.

The federation is an umbrella organization of regional chambers of commerce and committees representing specific sectors of the Saudi economy. The lubricants and base oils committee was created at the request of numerous businesses.

It is charged with a number of tasks, including reducing dependence on imports, raising the quality of products on the market, enhancing consumer understanding of lubes and recognition of products made domestically and boosting capacity of domestic blend plants. Officials said the group will also promote recycling of used lubricants.

Nawar is president and CEO of Petromin Corp., the nation’s largest lubricant supplier. Two other individuals were elected deputy chairmen of the committee: Khaled Altayeb, director of lubes and specialties at APSCO Mobil, a joint venture between Arabian Petroleum Supply Co. and ExxonMobil; and Abdallah Al Amhari, general manager for human relations at Al Jomaih and Shell Lubricating Oil Co., a joint venture between Shell and Al Jomaih Holding Co.

Related Topics

Finished Lubricants    Market Topics    Middle East    Region    Saudi Arabia