Intensified Competition in the Palestinian Mineral Oil Market
The Palestinian Mineral Oil Company has recently confirmed that Petropal the first locally produced mineral oil has the ability to compete with Israeli imported products. The company disclosed that Petropal is produced based on the international standards set by French Total. This French group also helped to build the Palestinian Mineral Oil Company factory in Hebron where Petropal is produced, al Hayat al Jadidah daily reported. This factory, established in 1997 through an investment of $7 million, produces 74 different types of mineral oils.
Other brand names marketed by the Palestinian Company in addition to Petropal include Petrototal and Petronol. Its storage capacity consists of 2,000 tonnes of imported raw oil and 750 tonnes of refined materials. The company markets its products in 1, 4, 5 and 18-liter packages. The actual daily output hits 25 tonnes, the required quantity to meet the local consumption. Speaking to the daily, Tamara Naser al Din from the Palestinian Mineral Oil Company disclosed the company aims to expand its production capacity to 25,000 tonnes of mineral oils per year.
- 46 mineral factories in the UAE in 2000
- Saudi Arabia intensifies reform efforts to improve competitiveness
- U.S. manufacturing competitiveness at a critical crossroads, says new report by Booz & Company
- Time for a wake-up call: shale boom triggering over-protectionism, threatening the Gulf
- Short-term bliss? GCC economies 'resilient' despite dip in oil prices