• Thursday, May 23, 2024
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Hyde Energy relaunches lubricants business, eyes expansion

Hyde Energy highlights LPG investment opportunities in Nigeria

Hyde Energy Limited, a global petroleum-trading company with a downstream network in Nigeria has revealed plans to relaunch Luminor, one of the company’s automotive lubricants.

This was made known by the chief executive and founder of Hyde Energy, Olademeji Edwards recently at a media parley held recently in Lagos.

Hyde Energy operates across the value chain of the energy industry. The company deals with the importation of petroleum products including Premium Motor Spirit, PMS, Gasoil, Dual Purpose Kerosene, DPK, Jet Fuel, Liquified Petroleum Gas, LPG, automotive lubricants and Naphtha.

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Speaking with the press, Olademeji said that in the next six months, Hyde Energy would be performing a relaunch of its Luminor brand and other products.

“The Hyde Luminor brand is a fantastic brand and has infiltrated the hearts of a few Nigerians.

“We launched that particular lubricant in 2017, and in our first year we sold five thousand litres in a quarter; today we are doing almost three thousand litres in a month which is not a lot compared to other companies.

“But in the next six months, we are performing a relaunch of our products. We are going to launch new labels, new bottles, and a new winning strategy coming into Lagos.

“We have not really been popular in Lagos; we have mostly been operating in the Southeast, Abuja, East and Calabar which is where we get most of our volumes, but you will be hearing more and more of the Hyde Luminor brand going forward in weeks and months ahead, and we will enter into partnership with key people that would help us penetrate the market, and work with stockiest, so they can enjoy and know about us,” He said.