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ADNOC Distribution Launches New Plant-Based Engine Oil

ADNOC Distribution formulates and produces the Voyager Green Series at its dedicated facility in the UAE, ensuring the highest levels of quality and efficiency in accordance with international standards.(WAM)
ADNOC Distribution formulates and produces the Voyager Green Series at its dedicated facility in the UAE, ensuring the highest levels of quality and efficiency in accordance with international standards.(WAM)
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ADNOC Distribution Launches New Plant-Based Engine Oil

ADNOC Distribution formulates and produces the Voyager Green Series at its dedicated facility in the UAE, ensuring the highest levels of quality and efficiency in accordance with international standards.(WAM)
ADNOC Distribution formulates and produces the Voyager Green Series at its dedicated facility in the UAE, ensuring the highest levels of quality and efficiency in accordance with international standards.(WAM)

ADNOC Distribution, UAE's leading fuel distributor, announced launching a new Voyager Green Series range of lubricant products for both petrol and diesel engines made from 100% plant-based base oil.

The company said it is bringing plant-based lubricants to the region for the first time, saying it comes as part of its plans to broaden lubricant offering and enhance its range of products that support a reduced carbon footprint

Voyager PX Green is developed specifically for petrol engines and Voyager DX Green for diesel engines. The high-quality blending technology is the first approach in the region to be made entirely from plant-based base oils, state news agency WAM reported.

ADNOC Distribution CEO Eng. Bader Saeed Al Lamk said the innovative new range offers customers a great range of choices to select the right lubricant for their vehicles.

"Leveraging our in-house research team and production facilities, we will continue to invest in innovation that offers greater choice, quality and supports our move towards a more diversified energy mix."

Plant-based base oils are made from sustainable feedstock sources, such as palm, soy, coconut and rapeseed. The range is formulated to deliver higher levels of engine performance than conventional synthetic base oils, due to its unique molecular composition.

Also, the new series will also carry certifications from the internationally recognized American Petroleum Institute (API) as well as and major vehicle manufacturer approvals, so customers can be assured of the highest levels of quality.

This new lubricants range will be available in the UAE from March 2022, as well as across the company’s international distribution network of 19 countries.

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Business

Oil Prices Steady as Markets Weigh Demand against US Inventories

FILE - Pump jacks extract oil from beneath the ground in North Dakota, May 19, 2021. (AP Photo/Matthew Brown, File)
FILE - Pump jacks extract oil from beneath the ground in North Dakota, May 19, 2021. (AP Photo/Matthew Brown, File)
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Oil Prices Steady as Markets Weigh Demand against US Inventories

FILE - Pump jacks extract oil from beneath the ground in North Dakota, May 19, 2021. (AP Photo/Matthew Brown, File)
FILE - Pump jacks extract oil from beneath the ground in North Dakota, May 19, 2021. (AP Photo/Matthew Brown, File)

Oil prices were little changed on Thursday as investors weighed firm winter fuel demand expectations against large US fuel inventories and macroeconomic concerns.

Brent crude futures were down 3 cents at $76.13 a barrel by 1003 GMT. US West Texas Intermediate crude futures dipped 10 cents to $73.22.

Both benchmarks fell more than 1% on Wednesday as a stronger dollar and a bigger than expected rise in US fuel stockpiles pressured prices.

"The oil market is still grappling with opposite forces - seasonal demand to support the bulls and macro data that supports a stronger US dollar in the medium term ... that can put a ceiling to prevent the bulls from advancing further," said OANDA senior market analyst Kelvin Wong.

JPMorgan analysts expect oil demand for January to expand by 1.4 million barrels per day (bpd) year on year to 101.4 million bpd, primarily driven by increased use of heating fuels in the Northern Hemisphere.

"Global oil demand is expected to remain strong throughout January, fuelled by colder than normal winter conditions that are boosting heating fuel consumption, as well as an earlier onset of travel activities in China for the Lunar New Year holidays," the analysts said.

The market structure in Brent futures is also indicating that traders are becoming more concerned about supply tightening at the same time demand is increasing.

The premium of the front-month Brent contract over the six-month contract reached its widest since August on Wednesday. A widening of this backwardation, when futures for prompt delivery are higher than for later delivery, typically indicates that supply is declining or demand is increasing.

Nevertheless, official Energy Information Administration (EIA) data showed rising gasoline and distillates stockpiles in the United States last week.

The dollar strengthened further on Thursday, underpinned by rising Treasury yields ahead of US President-elect Donald Trump's entrance into the White House on Jan. 20.

Looking ahead, WTI crude oil is expected to oscillate within a range of $67.55 to $77.95 into February as the market awaits more clarity on Trump's administration policies and fresh fiscal stimulus measures out of China, OANDA's Wong said.