History of the Company
After the establishment of the Union Investment Group in 1979 and entering the world of international trade through the establishment of its first offshore companies (Raya Shipping Company) and in order to keep pace with the commercial developments that the group is targeting in its new area of operation (the United Arab Emirates) and to meet those requirements, Al Jazeera Petroleum Products Trading Company was established and is one of the Union Investment Group companies in terms of the size and capital invested and the significant role it plays in the trade of oil on the largest scale in the world. The company came from its predecessor Texas Petroleum Company (TEXAS OIL), which was specialized in trading crude oil only.
Al-Jazeera Companyis a response to the great expansion of the group in the oil business and the transition from the trading of crude oil, which was carried out by Texas Oil and specified in the purchase and sale of only crude oil, to be a complementary activity in the same specialty is to refine crude oil and get oil products and trade in these products with many consumers across the Gulf region initially and then expand to the neighboring countries of the region. Today, the company has commercial relations in the field of petroleum products with many countries in the world.
Al Jazeera Petroleum Derivatives Trading Company was established in 2004 in the United Arab Emirates to be the heir to Texas Oil, a subsidiary of the group established in 2000, which was engaged in the purchase and marketing of crude oil as a medium agreement with the companies and the different bodies. Its activity is to enter into the operations of refining crude oil and obtaining oil derivatives and trading in them.
* At that time, the chairmanship of the group took the decision to establish a company to be more comprehensive in the areas of competence and covers the company's objectives in trading oil products.
* In light of this and after a study of the market and its requirements and the provision of administrative, financial and marketing staff specialized and internationally competent in that area, Al-Jazeera Petroleum Products Trading Company was established in 2004.
* The company has risen and expanded steadily taking advantage of the global oil market conditions and the increasing demand in the region for petroleum products and properly and appropriately used the support from sister and friend companies in the group and outside. Thus, Al Jazeera Petroleum Products Trading Company became the main arm of the Union Investment Group in the field of petroleum trading, warehousing operations, ship processing operations with fuel, oils, lubricants and other services.