According to WPB, GP Petroleums share price moved upward following a newly announced joint venture with West Coast Oils LLP, aimed at expanding its presence in the specialty bitumen sector.
On May 7, GP Petroleums reported forming a joint venture with West Coast Oils LLP to manufacture and distribute advanced bitumen products and associated commodities. This new enterprise will cover a wide spectrum of offerings, including all categories of bitumen emulsions, polymer modified bitumen (PMB), crumb rubber modified bitumen (CRMB), and other enhanced bitumen solutions.
Both partners will contribute equally to the joint venture and will share identical authority on the board, indicating a well-balanced and collaborative governance model.
Following the announcement, the company’s stock recorded a modest gain of around 1%, closing at Rs 39.46. Despite this rise, the share price remains 58.67% below its 52-week high of Rs 93.45, reached on September 17, 2024. It has, however, rebounded 7.28% from its low of Rs 36.00, registered on April 7, 2025. GP Petroleums currently holds a market capitalisation of Rs 196.90 crore.
This partnership is expected to elevate GP Petroleums’ market standing by diversifying its portfolio and unlocking new business avenues. Leveraging the joint strengths of both companies, the venture is positioned to innovate and respond to shifting market dynamics in the bitumen industry. The structure of equal investment and board participation underscores a shared commitment to long-term growth and value creation.
GP Petroleums stated on May 6, 2025, “We have entered into a joint venture agreement with West Coast Oils LLP to form a new entity focused on the manufacturing and trade of specialty bitumen products and allied goods. By pooling our resources and expertise, we aim to build a robust platform for growth in the bitumen sector.”
By WPB
Bitumen, Oil, Petroleum, Price
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