Saudi Aramco to launch base oils business

Saudi Aramco, the world’s largest oil company, plans to enter the base oils business as part of its downstream integration strategy, it said in a statement.

The company has been integrating its downstream business in refining and marketing, and is aiming to optimize the value of its petroleum molecules, while growing its refining and chemicals portfolio.

“We are very excited to launch our base oils brands and intend to streamline our base oils strategy, capitalizing on Saudi Aramco’s vast experience in the oil industry, its renowned reputation of high quality products and its prominent position worldwide in meeting customer’s needs,” Said Al-Hadrami, Vice President International Operations added in the statement. “We will also build on the tremendous base oil industry experience within our affiliates, which spans several decades.”

Aramco is also looking at synergies among its affiliates by way of automotive Group II slates interchangeability and linkage, the company said.

“In addition to the Group II slates interchangeability and linkage synergies, Saudi Aramco is also exploring further synergies amongst its affiliates with respect to their base oils offerings along with streamlining the marketing of these offerings in order to better serve customers.”