GoDubai
  
  
  
  
Citylife > Press Release
  Home Contact us Add to Favourites
Most Recent Postings
More Press Releses
Featured Sections

Event Finder
A daily roundup of exhibitions, promotions and other events in Dubai and the rest of the Emirates.
Submit an Event
Latest Dubai Press Releases >> Others

 
  Share

February 05, 2018 – Industry experts are optimistic that the oil and gas storage industry in some key global markets is poised for significant increase driven by strong oil demand, vibrant logistics activity in the oil and gas, and robust international and domestic trade activities. The international oil storage sector is projected to rise at a compound annual growth rate of 4.2 per cent from 2017 to 2023 as per the report of the Allied Market Research firm.

Southeast Asia is one of the leading global markets with considerable growth potential. According to the report by Aruvians Research titled ‘Analyzing the Global Oil & Gas Storage Industry,' the lack of storage infrastructure in major oil-consuming states such as China is one of the main factors behind the expanding regional oil storage industry.

Amidst the background of the booming oil storage sector in the region, Renish Group, a fast-growing company in the oil storage space, has announced the appointment of Rakesh Mehra as its new CEO for Southeast Asia. Mehra has been appointed as the Group's Director - Strategy and Planning in the UAE as well. He now leads the Group's overall growth and key operations in Southeast Asia, while concurrently spearheading the creation and implementation of its strategic business plans in the Emirates.

Mehra has built a strong track record in the field of oil and gas. He has led multidisciplinary teams and demonstrated effectiveness in managing diverse groups and strategic vision for the management of change and development within businesses.  A motivational leader who has consistently delivered exemplary results, he is known for clearly defining mission and goals; effectively aligning people and resources as needed; and efficiently supervising rapid network expansion, infrastructure development, and strategic planning programs.

Mehra, post his super-annuation from Bharat Petroleum Corporation Ltd. (BPCL), worked as strategic advisor and consultant for several companies in Mumbai, India. In his noteworthy six years stint as BPCL's Head of International Trade, he oversaw the import of nearly 28 million tons of crude oil, import-export of petroleum products, and commodity hedging.  His efficient handling of International Trade led to a significant increase in the corporation's profitability.

Hitesh Mehta, Managing Director, Renish Group, said: “Rakesh's appointment forms part of the Group's fundamental initiatives aimed at strengthening its relations with its customers and suppliers in Southeast Asia, one of our most important markets, and other parts of the world. Aside from being at the forefront of establishing robust ties with our local partners in the region, he is also going to be hands on in formulating Renish Group's strategic plans. His valuable contributions and capabilities will be instrumental in our bid to further achieve a more sustainable growth and development and deliver quality service to our international clients.”

“I embrace my new responsibilities in the organization with more enthusiasm and eagerness and even greater resolve and dedication to the Group's overall growth agenda in the midst of the ever-evolving industry. I look forward to closely collaborating with my team members to better strategize and establish new frameworks that will enable us to capitalize on opportunities and confront new challenges head-on,” Mehra commented.

Renish Group's vision is to be a diversified, transnational, integrated energy trading company, with regional leadership and strong conscience for the environment. It plays an important role in responsibly connecting products to the end users by exploring the supply chain value.

Incorporated in 2006 by Mehta, it is now a USD 600-million company with operations spread out globally. The Group runs offices in Dubai, India, and Singapore. Renish Group is adding new storage capacity tank in Hamriyah Free Zone in the UAE to meet the ever-growing demands of its customers. 



Posted by : GoDubai Editorial Team
Viewed 6917 times
Posted on : Monday, February 5, 2018  
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of GoDubai.com.
Previous Story :
Next Story :
Email this article Print this article

Share this article with your friends and followers
NewsVine

Comments

Back to Top  
Most Viewed Press Release posted in the last 7 days
Rolls-Royce Motor Cars Achieves Historic Business Record
Celebrate the Month of Love with a Brighter Smile at The Smile Bar
Introducing Burberry Bespoke Fragrances
Longchamp Spring/summer 2019 Show
Malabar Gold & Diamonds opens a new showroom in Millennium Dubai Airport Hotel t...
Hankook 24 Hours of Dubai kicks off the 2019 season for Audi
Global Village presents Scheherazade, a timeless tale of intrigue and adventure
Always take the front row with this 7.2” supersized smartphone screen
Making many tones from one
Turkish Airlines reached the 80.2% Load Factor in December 2018.
Celebrate Valentine's Day With a Quintessential Timepiece From D1 Milano
Eberhard & Co. Gilda makes an extraordinary Valentine's Day gift
Tag Heuer Demonstrates Watchmaking Mastery With Its New Carrera Calibre Heuer 02...
Third Edition of Al Shira'aa International Horse Show Concludes with Thrilling Finale
Epson to participate at SGI 2019 for the 10th year highlighting high value solut...
The Preston watch collection by Coach
A Chaumet Valentine's Day Sentimental jewellery
Beef Sushi- Love at first bite
Bring out the Chef in your little ones at 800 Degrees Pizzeria
Bollywood Actor Anil Kapoor to inaugurate 2 new outlets of Malabar Gold & Diamon...
Dubai Festival City Mall's Festival Bay transformed with a new, larger-than-lif...
Persil Appoints Nancy Ajram as the new Regional Brand Ambassador
Shane Breen Wins Grand Prix Qualifier at Al Shira'aa International Horse Show fo...
Smart City Services at Silicon Park Reach Advanced Level of Completion
Flying Grand Regulator now available in new colour combinations
Joyalukkas Shopper wins BMW Car in DSF Mega Promotion
Time for Unsung Heroes to Be Recognised With Citizen Campaign
Nicole Kidman at the Golden Globe Awards
Walid Atallah's “Dream Dress”: The new revolution in the World of Fashion 2019
Al Mouj Muscat pays tribute to Oman with Layers of Oman Exhibition
Tissot PRS 516 Alpine Limited Edition A sporting tribute
Canadian University Dubai (CUD) launches degree program in Climate Change in par...
Union Coop Among the ‘Elite' Sponsors of The FAZZA Championships for People of D...
ADEK's Winter Activities Program in Abu Dhabi hailed a resounding success
S@TIS' traceability software packages to feature at Arab Health 2019
The Kingdom of Saudi Arabia's Minister of Energy, Industry, and Mineral Resource...
Audi turns the car into a virtual reality experience platform at CES
Citi UAE opens Citigold lounge in Abu Dhabi.
OMEGA reintroduces the iconic Calibre 321
Luxury jewelry house Dhamani 1969 launches exclusive CHRYSALIS collection
Scuderia Ferrari presents PILOTA Family Collection
Alawwal bank becomes first Middle East firm to offer AI training for all staff
DLD records growing demand on its smart applications
SteelFab 2019 attracts the participation of the largest leading companies in the...
2020 Cadillac XT6 Makes Global Debut
Emirates Nuclear Energy Corporation Celebrates 3rd Barakah Excellence Awards
Airbus achieves new commercial aircraft delivery record in 2018
Global Energy Forum: His Excellency Khalid Al-Falih's address on day three
The Region's Most Anticipated Shopping Festival Is Back at Burjuman
DLD strategic partner of Egypt Mega Property Show in Cairo