Gulf Oil International secures assets in Singapore

The company plans to invest further in marine segment.

The Hinduja Group’s Gulf Oil International Ltd has reached an agreement with Singapore-based tanker management company Ocean Tankers (PTE) Ltd to acquire a lubricant blending plant with wharf access, storage tank farm, and terminal facility.

The acquisition will create a regional hub for Gulf Oil International in Southeast Asia with a focus on Vietnam, Malaysia and Thailand, as well as Oceania.

The agreement is said to be subject to closing conditions.

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