Neft Alsharq secures exclusive Divinol agency in Saudi Arabia, Syria

Neft Alsharq said the agreement is expected to contribute positively to the company’s revenue growth

Neft Alsharq Co. for Chemical Industries signed an exclusive agency agreement, on Feb. 12, with Germany's Zeller+Gmelin GmbH & Co. KG that specializes in the development and manufacture of specialty lubricants, according to a Tadawul statement.

Under the agreement, Neft Alsharq has been appointed as the exclusive agent for lubricants under the Divinol brand in both Saudi Arabia and Syria.

The agreement is expected to contribute positively to the company’s revenue growth and diversify its income sources in the coming periods, in line with Neft Alsharq’s expansion plans and efforts to strengthen strategic partnerships.

The deal aligns with Neft Alsharq's strategy to strengthen its product portfolio and expand its business scope by representing reputable international brands, supporting its growth, enhancing its competitive position, and expanding its presence in regional markets.

Neft Alsharq confirmed that no related parties are involved in this agreement.