S-OIL announced on Sept. 28 that it will sign a long-term strategic partnership with India's Gulf Oil Lubricants India Ltd. and manufacture and sell its top-of-the-line lubricant, "S-OIL Seven," in India.
S-Oil Seven lubricants began production in August at its Gulf Oil plant located in Chennai on the eastern coast of India, and is preparing to launch a full-fledged entry into the Indian market in the fourth quarter.
This is the first time for S-Oil to produce and distribute its products overseas. In India, the world's third-largest lubricant market, S-Oil plans to actively cooperate with Gulf Oil for the successful settlement of the S-Oil Seven Lubricants brand.
Noting that India production of S-Oil was possible because of the long-term relationship with Gulf Oil, Hussain al-Qahtani, CEO of S-Oil said, "It is all the more meaningful that we have overcome the difficult situation resulted from the COVID-19 and forged a partnership to explore the Indian market, one of the world's largest lubricant markets."
Since 2006, S-Oil has been exporting lubricating oil to Gulf Oil, India's leading lubricant maker. Through this strategic partnership, the two companies have made a leap forward into a long-term and expanded partnership in simple sales of raw materials and customer relationships.
