Oman Oil Marketing and Hass Petroleum Group have signed an agreement to start selling Oman Oil lubricants in Kenya.
This is part of Oman Oil Marketing's strategy to increase the exportation of its lubricants internationally.
The partnership signed by David Kalife, Oman Oil Marketing Company CEO and Issa Sheikh Mohamed, CEO of Hass Petroleum Group, will see the Omani lubricants being sold in Kenya starting July 10, 2018.
Kalife says that a key component in their growth strategy is focused on identifying new business leads and expanding the geographical reach of their products beyond Oman's borders.
"We are confident that this partnership will not only reinforce the trade relations between the Sultanate and Kenya but also help establish new streams of collaboration between the two nations and other neighbouring countries," he said.
Kenya boasts of tremendous business opportunities as the most developed nation in East Africa. Its location and strong logistical infrastructure make it an ideal port for imports to inland countries.
Oman Oil Marketing Company is building on this strategic advantage with plans to expand its distribution network from Kenya into the neighbouring countries including Uganda, Tanzania, and the Democratic Republic of Congo.
Mohamed said that the Kenyan lubricants market is valued at about USD 180 million. Most of this comes from the transport and industrial sectors
He added, "This partnership will cement Hass petroleum group's stake in this lucrative market by providing unique additive formulations for excellent engine protection."
Oman Oil Marketing Company produces lubricants that are sold across the Middle East, North Africa and the Indian sub-continent including Bahrain, Yemen, Ethiopia and Bangladesh.