The Arabian Petroleum Supply Company (APSCO), manufacturer and distributor of Mobil oil in Saudi Arabia, signed in Beirut, Lebanon, an agreement with Wardieh Holdings Inc. Sal, one of the largest oil importers and distributor in Lebanon, for distribution and marketing of Mobil oil products in Lebanon.
In a special ceremony held for this purpose, Mr. Khalid Al-Tayeb, Director Lubes & Specialties at APSCO, and Mrs. Danya Nakad, General Manager and Member of Board of Directors at Wardieh Holdings, signed the agreement in the presence of senior executives from both companies.
This agreement constitutes a major incentive for Saudi companies working in the area of petroleum products and derivatives to expand their business abroad and open new markets in on hand, and to develop their investments in oil industry.
Under the agreement, APSCO will directly supervise the sales of ExxonMobil products including engine oils, heavy and industrial machineries lubricants in Lebanon. The agreement, as well, creates direct cooperation between both parties to ensure the success of development and marketing plans for the Lebanese market.
After signing the agreement, Mr. Khalid Al-Tayeb, said:" The Lebanese market is an ambitious market, we shall do our best to increase our market share in this promising market, we have vast experience in manufacturing and marketing of petroleum products and this will help us to succeed, by God will".
He added: "Based on a recommendation from our parent company, and after a thorough study of the Lebanese market, we found that there is a great opportunity to achieve common ambitions of both companies, APSCO and Wardieh Holdings. We shall work directly with ExxonMobil in order to achieve mutual interest of the three companies.
Meanwhile, Mrs. Danya Nakad, expressed her high optimistic for signing this agreement with the Saudi company APSCO, stressing that "This agreement will have a positive impact on our sales in Lebanon in view of the considerable experience of APSCO as well as the optimistic results showed in our study of the Lebanese market ."
Wardieh Holding Inc. Sal has been marketing Mobil products in Lebanon for more than 40 years and has gained the trust of the American company to run its business, and thus they got assistance for the Saudi company APSCO to expand its marketing activities to meet Mobil aspiration to raise its market share.