manufacturer industry industrial engine oil and lubricants founded 22 november 1962 ; 53 years ago 1962 11 22 headquarters jeddah saudi arabia area served middle east africa and expanding to asia products engine oil petrol fuel diesel oil hydraulic fluid etc. ... services petrochemicals website http www.petromin.com the petromin corporation was a state owned saudi arabian corporation specializing in lubricant oils including manufactural industrial and automotive oils and lubricants . it was established to be the statist oil development of saudi arabia because at that time aramco was 100 % american owned . under the responsibility of dr. abdulhadi h. taher petromin became an industrial behemoth with tens of thousands of employees . it was responsible for all oil exploration refining and distribution of all petroleum and mineral resources in the kingdom that were not in the domain of then us controlled oil concessionaire aramco . after the kingdom purchased aramco from the americans petromin and most of its industrial developments were infused into it . the current remaining portion of petromin was a joint venture between mobil 29 % stake and aramco 71 % stake until it was purchased by the dabbagh hinduja alliance for 200 million usd in 2007 . in 2013 the dabbagh group purchased the hinduja stake based on a total valuation of more than 700 million usd . the dabbagh group is now hoping to ipo 19 % of the company by the end of 2015 . history edit the company was established by a royal decree on 22 november 1962 1 by a joint venture between saudi aramco and mobil investments and started production at its first blending plant in jeddah . 2 3 the first director general of the company is abdulhadi taher . 1 activities edit its jeddah plant is now one of the biggest oil and mobilization plants in the middle east and petromin corporation is the largest maker of lubricants in saudi arabia with a present production capacity of 300 000 metric tons . 4 the company currently distributes its products to over 35 countries across the world . 5 6 references edit a b hertog steffen 2008 . petromin the slow death of statist oil development in saudi arabia pdf . business history . 50 5 645 667 . doi 10.1080 00076790802246087 . retrieved 16 september 2013 . official website company information www.tradeboss.com petromin corporation petromin corporation trade boss . retrieved 7 july 2014 . hinduja group plans 1 billion saudi ipo of lubes blender petromin . oem lube news . 6 22 . 7 june 2010 . access date requires url help petromin new business strategy new business strategy gulf oil corp plans public issue of petromin . money control . 3 june 2010 . retrieved 7 july 2014 . this article about a natural gas or petroleum related company is a stub . you can help wikipedia by expanding it . v t e retrieved from https en.wikipedia.org w index.php title petromin corporation & oldid 722292482 categories oil and gas companies of saudi arabiasaudi arabian brandsnon renewable resource companies established in 19621962 establishments in saudi arabiapetroleum company stubshidden categories pages using citations with accessdate and no urluse dmy dates from july 2014all stub articles navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial pagespermanent linkpage informationwikidata itemcite this page print export create a bookdownload as pdfprintable version languages edit links this page was last modified on 27 may 2016 at 04 27 . text is available under the creative commons attribution sharealike license ; additional terms may apply . by using this site you agree to the terms of use and privacy policy . wikipedia is a registered trademark of the wikimedia foundation inc. a non profit organization . privacy policy about wikipedia disclaimers contact wikipedia developers cookie statement mobile view