Adnoc secures base oil licensing from General Motors
The agreement follows the start-up of Adnoc's 500,000-tonne capacity base oil plant in Ruwais last year
US car manufacturer General Motors has granted approval for the use of a high-performance base oil manufactured by Adnoc to be used in the US market, the Abu Dhabi firm said in a statement on Thursday.
"We have initiated a broad licensing programme for our high-quality base oil, ADbase, and have already secured a number of important formulation approvals," said Abdulla Salem Al Dhaheri, marketing, sales and trading director at Adnoc.
"This supports our goal of broadening and expanding our client base, while also achieving the best commercial value for our products," he added.
The formulation approval would allow for the ADbase product to find uses as a high-performance engine lubricant in the US automotive industry.
Adnoc signed an agreement in February to sell base oil to Europe as the firm looks to increase its product market share globally as part of a strategy to grow downstream.
The agreement follows the start-up of Adnoc's 500,000-tonne capacity base oil plant in Ruwais last year. Arabian Gulf state oil companies like Adnoc and Saudi Aramco have increasingly fine-tuned their strategy to sell more products to create alternative revenue streams.
Updated: June 28, 2018 05:50 PM