Petronas Lubricants International has sought to grow its global lubricants business in recent years by expanding in a number of key markets. Last month the company opened its second lube blending unit in Weifang, in Chinas Shandong Province, bringing its total annual capacity there to 150,000 metric tons. Petronas also has a 50-50 joint venture that operates another plant in China and opened a wholly owned research and development center in the country in 2015. The company is building a blending plant in Mumbai to increase its share of the Indian market and added a market company and office in Australia to increase its share there. Iran is the biggest lubricant market in the Middle East.

According to Iranoils web site, the company blends automotive and industrial lubricants at a plant in Tehran, which started operation in 1974. It operates base stock plants in Tehran and Abadan.

Iranol was once part of National Iranian Oil Co. but was spun off to private shareholders in 2003, according to its website.