Panama Petrochem

Name

Panama Petrochem

Legal name

Panama Petrochem Ltd.

Website

https://panamapetro.com

Company type

Public

Founded year

1975

Operating status

Operating

Headcount range

101–250 employees

Ownership category

akta.pro rank

Product category

Petroleum Specialty Products

NAICS

Petroleum Lubricating Oil and Grease Manufacturing (324191), Other Petroleum and Coal Products Manufacturing (32419), Petroleum and Coal Products Manufacturing (324)

SIC

Miscellaneous Chemical Products (2890), Miscellaneous Products Of Petroleum & Coal (2990), Industrial Organic Chemicals (2860)

akta.pro primary industry

Oilfield & Refining Specialty Chemicals (IMAEABAI)

akta.pro secondary industry

Base Oil Production & Supply (Group I–V, Re-refined) (EUALAJAA)

Keywords

• Petroleum specialty products
• Transformer oils
• Rubber process oils
• White oils
• Drilling fluids

Headquarters

HQ city

Ankleshwar

HQ country

India

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Infrastructure, Personnel, Technology or R&D, Marketing or Sales

Revenue model

1. Petroleum Specialty Products Manufacturing and Export: Panama Petrochem generates revenue through manufacturing and exporting nearly 80 variants of petroleum specialty products including white oils, transformer oils, industrial oils, rubber process oils, drilling fluids, waxes, petroleum jellies, and automotive oils. The company operates its own manufacturing facilities in India and exports through its wholly-owned UAE subsidiary.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

Panama Petrochem manufactures and exports nearly 80 variants of petroleum specialty products under the PANOL brand through four manufacturing units in India. The portfolio includes white oils, petroleum jellies, transformer oils, industrial and automotive lubricants, rubber process oils, textile oils, drilling fluids, and waxes, complying with international pharmacopoeias and BIS/IEC standards.

Product overview

Panama Petrochem Ltd. is a prominent manufacturer and exporter of nearly 80 variants of petroleum specialty products. The company operates a portfolio of products under its primary PANOL brand, including White Oil/Liquid Paraffin Oil, Petroleum Jelly (PANGEL brand), Transformer Oil (PANTRANSOL brand), Ink and Coating Oils, Rubber Process Oils, Textile Industry Oils, Industrial Oils and Greases (150+ grades), Automotive Oils, Drilling Fluids, and Waxes. Products comply with international Pharmacopoeias (IP, BP, USP, EP), FDA-India certification, and standards such as IS 335, IEC 296, IEC 60296, and BS148. The company has a wholly owned subsidiary Panol Industries RMC, FZE in UAE serving GCC and MENA markets.

Differentiator

Problem solved

Functional benefit

Brands

• PANOL: Brand name used for petroleum specialty products including automotive engine oils, gear oils, transmission fluids, hydraulic oils, rubber process oils, textile oils, and other lubricants.

Products and services

• White Oil/Liquid Paraffin Oil White oils manufactured from low pour point severely hydrotreated base oils, ranging from low to very high viscosity grades, used as blending base for pharmaceutical and cosmetic products, polystyrene manufacturing, food packaging, and industrial applications. Complies with IP, BP, USP, and EP Pharmacopoeias and is FDA-India certified.
• Petroleum Jelly Highly refined and treated hydrocarbon mixture with odourless characteristics, used as a base for ointments, personal care, veterinary, pharmaceutical, and cosmetic applications. Complies with IP, BP, USP, and EP Pharmacopoeias.
• Transformer Oil Transformer oils manufactured from severely hydrotreated naphthenic and isodewaxed/hydrocracked paraffinic oils with high oxidation stability, excellent cooling characteristics, and good electrical insulating properties. Meets IS 335:1993, IEC 296 Class I & II, IEC 60296, and BS148 Grade I & II standards.
• Ink and Coating Oils Wide range of petroleum distillates with controlled aromatics and boiling ranges for heatset, coldset, offset, and web base inks, including naphthenic oils, mineral oils, black ink oils, and bituminous varnishes. Products comply with international quality standards for lowest PCA content.
• Rubber Process Oil Rubber process oils under PANOL brand including PANOL C 160-A (Aromatic Base), PANOL C 160-P (Paraffinic Base), and PANOL C 160-N (Naphthenic Base), plus specialty oils meeting European Regulation for non-carcinogenic oils (MES, RAE, TDAE). Used in automotive tyres, tubes, conveyor belts, and technical moulded goods.
• Textile Industry Oils Fine textile oils including PANOL-KNT needle lubricant for circular knitting machines and antistatic coning oils for texturing synthetic yarns such as viscose, acetate rayon, nylon, and polyester. Products feature oxidation and chemical stability with antistatic properties.
• Industrial Oils and Greases Comprehensive range of more than 150 grades of industrial and automotive lubricants manufactured with hydrotreated and hydrocracked base oils. Includes hydraulic oils, gear oils, compressor oils, turbine oils, refrigeration oils, metal working fluids, marine oils, automotive engine oils, glass mould oils, quenching oils, thermic fluids, and greases meeting BIS and international standards.
• Automotive Oils PANOL automotive engine oils for commercial vehicles, agricultural tractors, marine engines, passenger cars, and two/three wheelers with better oxidation and thermal stability. Also includes automotive gear and transmission oils for bevel, spiral bevel, and hypoid gear differentials, synchromesh, and constant mesh transfer cases.
• Drilling Fluids Specialized drilling fluid products including Pan Emul S (secondary emulsifier), Pan Emul P (primary emulsifier), Pan Drill (customized for OBM applications, approved by ONGC), Pan Sulphate (mud conditioner), Pan Visco, and Pan Gil. Products meet OSPAR and LC 50 standards with eco-friendly zero aromatic content.
• Waxes Wax products including Fully Refined Paraffin Wax, Semi Refined Paraffin Wax, Slack Wax, and Micro Wax. Products feature moisturizing properties, high purity, chemical stability, and are suitable for pharmaceuticals, cosmetics, food processing, plastics, and food packaging applications.

Quantifiable outcome

• Stock returned 289% over three years, making it a notable multibagger
• +2 more outcomes

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

One partnership is on record.

• Panol Industries RMC, FZEcoreStrategic or Co-development PartnerWholly-owned subsidiary of Panama Petrochem situated at Ras Al Khaimah, UAE. Serves the GCC and MENA regions, expanding the company's geographic reach in Middle East markets.

Scale indicators7 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• Savita Oil Technologies: Indian specialty petroleum oils manufacturer producing transformer oils, liquid paraffins (white oils), petroleum jellies, and rubber process oils. Highly comparable product overlap with Panama Petrochem's PANOL-branded portfolio across the same pharmaceutical, electrical, and rubber end-markets.
• Tide Water Oil Co. (Veedol): Indian lubricants and specialty oils manufacturer (Veedol brand) producing industrial oils, automotive lubricants, and process oils. Overlaps with Panama Petrochem's automotive oils, industrial oils, and rubber process oil segments.
• APAR Industries: Large Indian specialty oils and transformer oils manufacturer with global export reach. Competes with Panama Petrochem in transformer oils, lubricating oils, and petroleum specialty products, particularly for power utility and electrical equipment customers.
• Gandhar Oil Refinery (India): India-listed manufacturer of specialty oils including white oils, transformer oils, industrial lubricants, petroleum jellies, and rubber process oils. Directly competes with Panama Petrochem in transformer oils, white oils, and industrial specialty segments across India and exports.
• Eastern Petroleum: Indian manufacturer of industrial lubricants, greases, transformer oils, and specialty petroleum products. Smaller-scale peer with comparable product categories, particularly in industrial lubricants and specialty oils.
• Raj Petro Specialties: Indian specialty petroleum products manufacturer focused on petroleum jellies, white oils, transformer oils, and industrial specialties. Direct overlap with Panama Petrochem's pharmaceutical-grade and industrial-grade offerings for domestic and export markets.

Broad incumbents

• Hindustan Petroleum Corporation: Large Indian state-owned oil marketing and refining company with a lubricants specialty business. Competes in industrial and automotive lubricants segments, providing scale-based competition in commoditized grades where Panama Petrochem also operates.
• Bharat Petroleum Corporation: Large Indian integrated oil company with a specialty lubricants and base oils division. As a broad incumbent with much larger scale, it competes with Panama Petrochem in industrial lubricants and specialty petroleum products but serves a broader energy portfolio.
• Lubrizol: Global specialty chemicals leader owned by Berkshire Hathaway, producing lubricant additives and specialty base oils. Competes with Panama Petrochem indirectly through additive and base oil supply chains into industrial lubricant and specialty oil manufacturers.
• Gulf Oil International: Hinduja Group-owned global lubricants and specialty petroleum products company. Much broader portfolio and international footprint, but overlaps with Panama Petrochem in industrial and automotive lubricants, particularly in the Indian and Middle East markets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries1 record

Funding overview

Funding rounds2 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Panama Petrochem