Petronas, a leading oil and gas company in Malaysia, has signed an agreement with Saudi Arabia’s Unified Lubricants Company (ULC) for the exclusive distribution of its high-quality engine oils and other products in the kingdom.
The contract follows Petronas' agreement with Saudi Aramco in late February on the Refinery and Petrochemical Integrated Development (Rapid) project in Malaysia.
Following the February agreement, Saudi Aramco will have an equity stake in the Rapid project developed by Petronas in the Malaysian southern state of Johor, said a statement from the company.
Engineer Mohammad Al Fahl, board of directors of ULC, said: “The partnership between Petronas and Saudi Arabia solidifies the kingdom’s position as a main player in the global economy, in line with Saudi Arabia Vision 2030.
“Through our company’s partnership with Petronas, we can offer a wide range of high quality products to motorists, and provide training opportunities to Saudi youth,” he said.
Headquartered in Kuala Lumpur, Petronas is the largest company holding leadership position in Malaysia’s economy. It is also a technical partner to Mercedes AMG Petronas Motorsport and has co-engineered a new range of customised fuel and lubricants to provide a competitive edge on track for the three-time Formula One world champion team, said the statement.
Ranked among top 10 lubricant manufacturers in the world, it employs research and development programs in driving an aggressive business growth agenda to secure its position as a leading global lubricants company.
Petronas’ products in Saudi Arabia include “Petronas Syntium”, engineered to fight excessive engine heat; “Petronas Mach 5”, developed to provide reliable protection; and “Petronas Urania with ViscGuard” to cater for the commercial vehicle segment, in addition to gear oils, hydraulic oils, greases, coolants, and brake fluids, it stated.