Saudi Aramco to enter base oils business

Saudi Aramco plans a base oils
business as part of its effort to optimize the value of its petroleum molecules
and further develop its chemical portfolio.
While Saudi Aramco has explored the base oils business for
many years, it has previously done so via joint ventures. Now it will do so via
its own company portfolio, hoping the launch will capitalize on the company’s
prestigious reputation for quality products and meeting customer
needs.
“We are very excited to launch our
base oils brands and intend to streamline our base oils strategy, capitalizing
on Saudi Aramco’s vast experience in the oil industry, its renowned
reputation of high quality products and its prominent position worldwide in
meeting customer’s needs,” Said Al-Hadrami, vice president of international operations, said in a statement. “We will also build on the tremendous base oil
industry experience within our affiliates, which spans several decades.”
The company also finalized the Passenger
Car Motor Oil program as per the European ATIEL Code of Practice. It
hopes to have the Heavy Duty Motor Oil program finalized within the
year.