A firm in Huddersfield is set to sell oil – to Iraq.
Netherton-based Sterling Oil is to start exporting blended oils to one of the world’s biggest oil-producing countries after seeking help from Bradford-based overseas trade specialist Chamber International.
The company will introduce its wide range of commercial oils to Iraq after Chamber International’s Lydia Moi completed its verification and registration to trade with the Iraqi government.
The firm, which employs just four people and has turnover of £500,000, now has the prospect of landing multi-million sales over the next few years.
Sterling Oil director Martin Adams said: “The registration is a major breakthrough which has the potential to drive significant growth within the business for years ahead.
“Being able to trade in Iraq, a major oil-producing nation, crucially opens the door for other companies within our group to trade there.
“It is difficult to say what this means to Sterling Oil in terms of revenue as it depends how much we sell. However, given that our oils are blended to meet the needs of a wide range of commercial sectors, from automotive to heavy and light industry, we could easily achieve £5m in additional sales in the next few years.”
Mr Adams said: “To enable us to trade in Iraq we had to compile detailed information for both the UK and Iraq governments about Sterling Oil Ltd. It is highly complex and the fact that Lydia did this successfully in less than two weeks is virtually unbelievable. She did a fantastic job which will have real and lasting impact on this business.”
Sterling Oil Ltd, founded in 2015, already exports to the United Arab Emirates. The firm is part of Huddersfield-based Universal Group of Companies, headed by Mr Adams, which has 90 staff and a total turnover of £7m.
The group also includes HR Blowers Ltd, Turbo Precision Components Ltd, Universal Engineering Workholding Ltd, Exactobore International Ltd, Friction Welding Systems, Mastercraft Machine Tools Ltd and Sterile Food Pharma Valve Company Ltd and has interests ranging from industrial blowers, drilling equipment and welding systems to machine tools, valves and filters.
Chamber International director Tim Bailey said: “Being able to sell blended oil back to the Middle East is no mean feat and demonstrates the excellence of some UK businesses and the opportunities which exist overseas. It is also good to see more and more Yorkshire small businesses looking beyond the EU as we seek to become a true global trading nation.”