Aramco Enters Lubricants Market with Launch of ORIZON® Product Range

Saudi Aramco. Asharq Al-Awsat
Saudi Aramco. Asharq Al-Awsat
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Aramco Enters Lubricants Market with Launch of ORIZON® Product Range

Saudi Aramco. Asharq Al-Awsat
Saudi Aramco. Asharq Al-Awsat

Aramco has announced its entry into Saudi Arabia’s domestic lubricants market, offering consumers a new line of lubricant products under the ORIZON® brand.

Aramco timed the ORIZON® launch to coincide with the inaugural Saudi Arabian Formula 1 Grand Prix in Jeddah, it said in a statement on Sunday.

Aramco is a global sponsor of Formula 1.

Aramco has introduced the ORIZON® product line in more than 20 cities including Riyadh, Jeddah and Dammam with more locations planned.

ORIZON® products include synthetic and semi-synthetic lubricants for gasoline engines and heavy-duty diesel engines, as well as driveline products, greases and brake fluids.

The company has also expanded the brand to include ORIZONPRO® which is a high-performance line for the industrial sector.

“Entering the lubricants market is an important milestone for the company, as we continue to expand our presence throughout the downstream value chain,” said Aramco Vice President of Fuels Yasser M. Mufti.

“ORIZON® products leverage Aramco’s extensive capabilities in research and development, making them a quality line of lubricants that boosts the local market offering and enhances consumer choice,” the statement quoted him as saying.

“The launch of ORIZON® further complements Aramco’s presence in the Kingdom’s downstream direct-to-consumer segment, following the inauguration of our first two service stations in Riyadh and Saihat recently,” he added.



Saudi Red Sea Authority, Insurance Authority to Launch Saudi 1st Coastal Tourism Insurance Product

Saudi Red Sea Authority, Insurance Authority to Launch Saudi 1st Coastal Tourism Insurance Product
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Saudi Red Sea Authority, Insurance Authority to Launch Saudi 1st Coastal Tourism Insurance Product

Saudi Red Sea Authority, Insurance Authority to Launch Saudi 1st Coastal Tourism Insurance Product

The Saudi Red Sea Authority (SRSA) and the Insurance Authority have signed a cooperation agreement to launch insurance products that cover risks associated with all coastal tourism activities through local insurance companies, according to a press release issued by SRSA.
This initiative aims to enhance the appeal of coastal tourism, attract participants in navigational and marine tourism activities, and strengthen local content in alignment with Saudi Vision 2030, SPA reported.
The agreement was signed by SRSA CEO Mohammed Al Nasser and Insurance Authority CEO Eng. Naji Al-Faisal Al-Tamimi.
The release noted that the launch of these insurance products aligns with SRSA's mandate to promote navigational and marine tourism, providing a comprehensive tourism experience and establishing a model infrastructure that attracts investment in the sector.
The Insurance Authority is similarly committed to fostering industry growth and development by coordinating with other government entities to enhance its activities through a range of innovative insurance products that stimulate and protect investments.
In partnership with the Insurance Authority, SRSA held a series of meetings with insurance companies to develop these products, aiming to enhance the appeal of navigational and marine tourism activities—including sailing, kayaking, water skiing, diving, boating, and surfing—to better serve practitioners' needs.
SRSA began its efforts to build and regulate the coastal tourism sector in 2021, with objectives that include enhancing integration among relevant entities by issuing licenses and permits, developing policies and strategies, determining infrastructure requirements, preserving the marine environment, enabling small and medium-sized enterprises (SMEs), and promoting navigational and marine tourism activities, thereby adding value to the national economy.
Established by Cabinet Resolution No. 85 on August 15, 2023, the Insurance Authority is responsible for organizing, stabilizing, and developing Saudi Arabia's insurance sector. Benefiting from legal personality, financial and administrative independence, and organizational affiliation with the Prime Minister, the Authority is dedicated to increasing insurance awareness, safeguarding the rights of the insured and beneficiaries, contributing to financial stability, and reinforcing the principles underlying insurance contractual relationships.