December 31, 2011 [Trade Arabia] - Gulf Petrochem Group, a leading player in the oil industry, said it has opened a new office in Dubai to capitalise on the UAE’s vast market opportunities.
The office will mainly trade in light, middle distillates (gasoline, gasoil and naphtha) and residue oils (fuel oil, base oil and bitumen).
As an extension of fuel oil trading, the company will also undertake bunkering of marine vessels with road tanker wagons and barges in UAE ports.
Gulf Petrochem already has its headquarters in Hamriyah, Sharjah and expects to further increase its local operations and market reach via its new Dubai office.
“Dubai is Gulf’s recognized business hub so our presence in the emirate will enable us to better attract and pursue opportunities in the UAE and throughout the region,” remarked Sanjeev Sisaudia, Group Chief Executive, Gulf Petrochem Group..
“While we are aggressively expanding towards Asian and other global growth markets, the Gulf remains a top priority and our Dubai office reaffirms our commitment to our regional base,” he added.
Gulf Petrochem Group had recently named three new trading officials in major Asian markets and started its office in Geneva to kick start its European operations.
During its participation at the 2011 Tank Storage Asia expo and conference in Malaysia, the Group reaffirmed its willingness to share its Gulf expertise to Asian and global oil players.
Gulf Petrochem is a specialist in oil trading & bunkering, refining, grease manufacturing, oil storage terminals, bitumen manufacturing, and shipping & logistics.
It operates a 60,000 cubic meters facility in Hamriyah Free Zone, Sharjah capable of storing various grades of oils and owns three vessels with a combined capacity of 17,000 cubic meters to service bulk shipments.
A few weeks ago Sanjeev Sisaudia announced plans to spend $250 million on the construction of new storage terminals and the purchase of new ships over the next three years.
