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.
Speaking with the press, Mr. 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 launching 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.
At the media parley, the company revealed its achievements in Liquefied Petroleum Gas (LPG), with reasonable contributions to the country by assisting locals and those operating restaurants converting them from charcoal to LPG. A test was carried out through a woman who discovered that cooking with gas was convenient and cheaper.
Hyde Energy is also expanding its LPG operations to capitalise on massive potentials in the Nigerian market. It has built trusted reputation in the global, regional and national wholesale LPG markets.
Oladimeji spoke on the issue of subsidy which the present administration has insisted that by June, it has to be removed. He pointed out that subsidy has been a recurring issue in Nigeria and every operator is watching as the situation unfolds to see the incoming government’s line of action.
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