Madsen is taking over full ownership of Pacific Petroleum having joined the firm as partner and general manager in 2019 after founder Graeme Bull retired.
“I believe in Singapore as a future hub for the oil business and see the high quality products that we offer as a contributor to a cleaner and better environment,” Madsen said.
Pacific Petroleum is a niche business specializing in distributing high-end lubricant products for cars and industrial applications, including the food processing industry and the oil & gas segment.
Madsen sees a growing demand for high-end synthetic lubricants.
“That is a market that will develop in unison with higher and stricter demands for safe and environmental friendly products from consumers and industrial customers. The high-end products reduces the energy consumption, make the machinery last longer and run safer - and thereby contribute to a better environment. Everybody wants to save energy and reduce operational expenses,” he said.
Among the brands and companies represented by Pacific Petroleum are Royal Purple and Citgo including the sub-brand Clarion.