Fineotex Chemical Acquires U.S. Oilfield Chemicals Group CrudeChem Technologies
Fineotex Chemical Limited (FCL) has strategically acquired CrudeChem Technologies Group, a U.S.-based leader in specialty oilfield chemicals, through its subsidiary. This landmark acquisition marks FCL's significant step towards global expansion and technological leadership in sustainable chemical solutions for the oil and gas sector. The move enables FCL to access the growing North American market, targeting an $11.5 billion industry, and aims to build a $200 million oilfield chemical business. Fineotex plans to hold a controlling stake and increase investment over time.
Fineotex Chemical Limited (FCL), a prominent global player in specialty performance chemicals, announced the strategic acquisition of CrudeChem Technologies Group, a leading U.S. specialty oilfield chemicals manufacturer. This significant move, executed through FCL's subsidiary, is a transformative step aimed at bolstering Fineotex's global expansion and cementing its technological leadership in high-performance and sustainable chemical solutions for the oil and gas industry.CrudeChem Technologies, based in the U.S., specializes in advanced chemical fluid additives and comprehensive oilfield chemical solutions. With over a decade of proven performance, the company has cultivated strong customer relationships and long-term partnerships with major energy producers. Founded by three industry veterans, CrudeChem is recognized for its environmentally responsible oilfield chemistry, aligning with the evolving energy landscape's focus on efficient, cost-effective, and ESG-compliant solutions. The group is supported by a world-class technical laboratory in Texas and facilities in Midland and Brookshire.This acquisition positions Fineotex to significantly participate in the rapidly expanding North American market for oilfield chemicals, which is projected to reach $11.5 billion in 2025 with robust growth across midstream, refining, and water-treatment segments. Mr. Sanjay Tibrewala, Executive Director of FCL, highlighted the acquisition as a pivotal moment in Fineotex's journey to establish a $200 million oilfield chemical business. He emphasized that CrudeChem's technological capabilities, customer relationships, and commitment to sustainability perfectly complement Fineotex's vision, creating a powerful global platform for innovation and environmental responsibility. Fineotex will initially hold a controlling stake, with plans to increase its investment and ownership in the future.
