Global lubricants giant Gulf Oil has joined hands with OTO Pakistan to market its products in the country. Established in 1901, Gulf Oil supplies lubricants to 1,400 ports around the world.
CEO of Gulf Oil United Kingdom (UK) Mike Jones signed the agreement with his counterpart at OTO Pakistan Tariq Mehmood in their corporate headquarters in London.
CEO of OTO Pakistan said that the development will encourage global petrochemical companies to see Pakistan as a safe destination for trade, investment and joint ventures. He said that Pakistan is a huge market for lubricants and retail fuels; with a population of 245 million and at least eight million vehicles. He said that Gulf Oil is a huge company with a presence in 100 countries across the globe. He said that Pakistan has the potential to become a regional transshipment hub and demand for lubricants will be multifold in a few years. Additionally, energy is one of the five focus areas of the Special Investment Facilitation Council (SIFC); and, the oil industry provides fuels for the energy sector.
