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ADNOC signs Exclusive Seller Agreement with Xiamen Sinolook Oil Co. Ltd. for Base Oil Sales into China

2020-02-20      Auto:

London,UK – February 19, 2020: The Abu Dhabi National Oil Company (ADNOC) announced, today at the 24th World Base Oils and Lubricants Conference in London, that it has signed an Exclusive Seller Agreement with Xiamen SinolookOil Co. Ltd, appointing them as exclusive seller of ADNOC’s Group III base oil into China, a growing and important market to ADNOC.

ADNOC Refining, an ADNOC subsidiary, currently produces up to 500,000 metric tonnes per year of Group III base oil, at its Ruwais refining complex in the UAE. The Company also produces around 100,000 metric tonnes per year of Group II base oil. ADNOC’s Group III base oil use high paraffin crude oil as feedstock, setting new standards for quality and consistency.

FatimaAl Mutawa ADNOC’s Senior Vice President, Market Research & Production Planning, said: “The signing of this Exclusive Seller Agreement further develops our presence in China and marks another milestone for our premium “ADbase”. This exclusive agreement further high lights ADNOC’slong-established reputation for delivering the highest quality products and service to our customers.”

Xiamen Sinolook Oil Co. Ltd. is one of China’s biggest importers and distributors of base oils. Demand for base oils has increased year on year, with Asia-Pacific region dominating the global market share, particularly in China which is the world’s largest automotive producer. This demand for engine oil is forecast torise with the increase in automotive production in the coming years.

Qingchun Lin, General Manager, Xiamen Sinolook Oil Co. Ltd. said: “This Exclusive Seller Agreement builds on five years of importing ADNOC Group IIIbase oils, supplying over 300 end-user customers throughout China. XiamenSinolook Oil Co. Ltd and ADNOC recognize that the quality and reliability of ADbase, which will play an important role in meeting the growing demand of the Chinese market for high-quality Group III base oils.”

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