Vertex Energy, Inc. (Vertex), a refiner and marketer of high quality speciality hydrocarbon products, announced that The Abu Dhabi National Oil Company (ADNOC) announced this week that it has signed an exclusive agreement with Penthol, a global organisation in the supply and distribution of oil products and petrochemicals, appointing them as exclusive seller of their Group III base oils into the USA.
In line with its strategy to maximise value from its refining and petrochemical business, ADNOC produces up to 500 000 tpy of high quality Group III base oils through the Abu Dhabi Oil Refining Company (Takreer), an ADNOC Group Company. Group III base oils are typically used to manufacture top tier, high performance, engine oils.
Vertex announced last year, that it had entered into an agreement with Penthol to act as Penthol’s exclusive agent to market these new high quality base oils for the US.
In the past year, Vertex has taken on the responsibilities, in cooperation with Penthol LLC (A Penthol subsidiary in the US), for sales, marketing, technical support, and supply chain for the US market. The two companies are currently offering High VI Group III base oils in 4 cSt, 6 cSt and 8 cSt viscosities under the Vertex-Penthol name of 'AD Base' base oils.
Faruk Erkoc, Chairman of Penthol LLC, said, "We are very excited to work with Vertex as our exclusive agent. Their Group II base oil sales and logistical infrastructure fits perfectly with our long-term commitment to deliver high quality AD Base Group III base oils to our customers throughout the US."
Read the article online at: https://www.hydrocarbonengineering.com/petrochemicals/23052017/adnoc-signs-agreement-with-penthol/