Business & Money | Tuesday 4 October, 2016 4:42 pm |

With an eye on expanding its lubricant business in Saudi Arabia, Italian giant Eni has entered the Saudi Arabia market by announcing on Monday a strategic partnership with Saudi based Advanced International Lubricants Company, ADINLUBE for the blending, distribution, sales and marketing of Eni lubricants in Saudi Arabia.

The signing ceremony took place at Park Hayat Jeddah in the presence of Commercial Attaché for Italian Consulate, Eni Lubricants Business Unit and Special Products Senior Vice President and President of Advanced International Lubricants Co. (Adinlube).

 

Adinlube President, Mr. Mamdooh Al Rukhimi, termed Eni entering the Saudi market as an important step in its strategy for diversification, regional expansion and growth, he commented: “Eni enjoys an established legacy as a product technology leader with the highest level of expertise, working side-by-side with leading international partners around the world. This partnership with Adinlube, owned by the Al Amoudi group is an extension of that legacy.”

 

He continued “The agreement is a milestone for Eni and Al Amoudi Group represented by Naft Services as the Saudi market is one of the biggest markets for lubricants and offers strong growth opportunities. Building on our success and expertise in Saudi Arabia and the greater MENA region, we are confident that we will continue with the same success in the Saudi market. Adinlube has extensive industry experience and is ideally placed to assist us in our long-term goals”.

 

For further expansion in the Saudi market, Mr. Al Rukhimi said “We have ambitious expansion plans and hopefully we will have our first two service centers operational, in Jeddah and Dammam which are in their final development stages. And, we are striving to open 5 centers before year end.”

 

Commenting on this partnership, Eni Lubricants Business Unit and Special Products Senior Vice President, Mr. Luca Arcangeli said “That joining hands with Adinlube provides us with a strong opportunity to further expand our businesses in the MENA region and offer our customers a wholesome experience and high tech lubricants that suit wide varieties of engines, equipment and other industrial applications.

 

Eni is one of the largest private integrated oil & gas company by reserves.  It has a global expertize in lubricants market with high quality lubricants range for Gasoline Engines, Diesel Engines and many other applications. Eni lubricants with its expertise will give full support to Adinlube to serve local customers and will provide up to date products”. Eni Senior Vice President was confident in becoming one of the leading players in the region thanks to Eni lubricants expertize and Adinlube local market knowledge.

 

Eni is an integrated company that operates across the entire energy chain, employing some 29,000 people in more than 60 countries around the world. Scientific research and technological innovation are at the heart of its strategies for sustainable development. It owns and operates around 6,000 Gas Stations in Europe.