Gulf Petrochem Group is a company operating in the downstream and midstream sectors of the oil and energy industry. It has six divisions in Oil Trading and Bunkering, Oil Refining, Grease Manufacturing, Oil Terminals, Bitumen Manufacturing, and Shipping and Logistics.

Gulf Petrochem was founded by brothers Ashok Goel and Sudhir Goyel. In 1998 they obtained the rights to commission a refinery in Sharjah’s Hamriyah Freezone alongside a grease manufacturing plant producing lithium base grease.

In 2007 Gulf Petrochem entered into Fujairah through the construction of a 112,233 square metres (1,208,070 sq ft) oil terminal with a total storage capacity of 412,000 cubic metres (14,500,000 cu ft) to handle Class III petroleum products such as Fuel Oil, Gas Oil and Cutter Stock. In Hamriyah, the facility has a total of 14 tanks, with pipelines for white and black products.

In 2010 trading offices were established in Singapore and Dubai. The company is now trading in fuel, gas, base oil and bitumen with offices in 15 countries.

In 2014 Gulf Petrochem announced an acquisition of the Royal Dutch Shell Specialties Bitumen plant at Savli, near Vadodara in Gujarat, India. It also made an open offer to acquire 26% of Sah Petroleums Ltd, a manufacturer of industrial and automotive oil lubricants in India, from its public shareholders. This follows the group’s 72.23% acquisition of the company on 31 July 2014, pursuant to a share purchase agreement.

Gulf Petrochem founded the ASPAM Foundation that supports orphans across India.