KARACHI: A global lubricants giant, Gulf Oil, has entered the local market through a partnership agreement with OTO Pakistan, which the latter described as a “breakthrough development” for the country’s oil market in a Saturday statement.
Gulf Oil was established in the United States in 1901 and supplies lubricants to 1,400 ports around the world.
Tariq Mehmood, the CEO of OTO Pakistan, signed the deal with Mike Jones, his counterpart at Gulf Oil in the United Kingdom, hoping it would attract the interest of global petrochemical companies into the Pakistani oil market as a safe trade, investment and joint ventures destination.
“Tariq Mehmood explained that Pakistan is a huge market for lubricants and retail fuels, with a population of 245 million and at least 8 million vehicles,” the statement said.
Mehmood noted Gulf Oil was a huge company with presence in 100 countries across the globe, adding its decision to enter into business with Pakistan would set an example for other global petrochemical conglomerates to tap into the local market.
He maintained the availability of Gulf Oil products would not only raise the standards of Pakistani lubricants market but also promote healthy competition among existing and potential players in the business.
The CEO of OTO Pakistan said his country had the potential to become the region’s transshipment due to the multibillion-dollar China-Pakistan Economic Corridor, hoping the demand for lubricants would significantly increase within a span of few years.
Gulf Oil forges ‘breakthrough’ local partnership to enter Pakistan’s oil market
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Gulf Oil forges ‘breakthrough’ local partnership to enter Pakistan’s oil market
- The partnership with OTO Pakistan will provide the global lubricants giant access to some eight million vehicles
- The deal is also expected to attract other global petrochemical conglomerates to tap into the local market
India captain says will travel for Pakistan clash despite boycott
- Pakistan have announced they will boycott their match against India on Feb. 15 in Sri Lanka
- India need to be at the stadium on Feb. 15 to ensure they are awarded two points for match
MUMBAI: India captain Suryakumar Yadav said Thursday that his team would show up in Colombo for their T20 World Cup clash against Pakistan, despite their Group A opponents and arch-rivals boycotting the match.
“We haven’t said no to playing them (Pakistan),” Yadav told reporters at Mumbai’s Wankhede stadium, where India will begin their campaign against the United States on Saturday’s opening day.
“They are the ones who have said no. Our flights are booked and we are going to Colombo.”
India need to be at the stadium and ready to take the field for the February 15 match in order to make sure of being awarded the two points for a match forfeit.
The tournament, co-hosted by Sri Lanka and India, has been overshadowed by weeks of political posturing in the build-up.
Bangladesh were kicked out for refusing to play in India and Pakistan’s government then told its team not to show up at the clash of the arch-rivals as a show of support for Bangladesh.
Pakistan and India have not played bilateral cricket for more than a decade, and meet only in global or regional tournaments events.
India start the T20 World Cup on home soil with a great chance of retaining the title they won two years ago and Yadav agreed they were the side to beat.
“The way we have been playing, it looks like we are the favorites,” he smiled.
If that seemed like an overconfident statement, the India captain was quick to caution: “There are 19 (other) good teams in the tournament, though.
“On a given day, when you play, you have to bring your A-game and play good cricket.”
India know that their opening opponents, the United States, caused the biggest upset of the 2024 tournament when they beat Pakistan in a super over.
Yadav said no team would be taken lightly.
“I’m sure every game will be very important,” he said.
