Gulf Oil International has reached an agreement to acquire the lubricant blending plant from Ocean Tankers.
The lubricant blending plant comes with wharf access, storage tank farm and terminal facility, located in Singapore’s Tuas region.
Mike Jones, CEO of Gulf Oil International, commented: “This facility provides a strategic opportunity for Gulf to invest further in the marine segment and grow its market share in marine lubricants and other services. It will also provide a regional hub to accelerate our business development plans in South East Asia within the automotive sector, with a focus on Vietnam, Malaysia and Thailand, as well as Oceania. In addition, we will continue to support and grow the existing customer base of Ocean Tankers (PTE) Ltd. We are excited to welcome the associated employees to the global Gulf family and engaging with all stakeholders post-closing.”