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Gulf Oil to acquire Ocean Tanker’s lubricant blending plant in Singapore

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Gulf Oil International has reached an agreement to acquire the lubricant blending plant from Singapore’s Ocean Tankers.

The lubricant blending plant comes with wharf access, storage tank farm and terminal facility, located in Singapore’s Tuas region on the western tip.

“This facility provides a strategic opportunity for Gulf to invest further in the marine segment and grow its market share in marine lubricants and other services,” said Mike Jones, ceo of Gulf Oil International.

“It will also provide a regional hub to accelerate our business development plans in Southeast Asia within the automotive sector, with a focus on Vietnam, Malaysia and Thailand, as well as Oceania. In addition, we will continue to support and grow the existing customer base of Ocean Tankers,” he added.

Ocean Tankers, an arm of oil trader Hin Leong, is currently under judicial management and is expected to be wind up following the collapse of its parent Hin Leong.

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