Sharjah Update Sharjah business & Investment News from Invest in Sharjah (Sharjah FDI Office)
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IPT Energy LLC, a prominent leader in the energy sector with origins in Lebanon since 1970, recently celebrated a significant expansion milestone within Sharjah. This notable activity, supported by Invest in Sharjah, commemorated IPT Energy’s substantial growth and increasing influence in the region.
In a strategic move, IPT Energy has recently expanded its presence in Sharjah by establishing IPT Energy Trading. This new entity actively engages in the importation and trading of refined oil products, petrochemicals, lubricants, and grease.
Demonstrating a deep commitment to Sharjah’s burgeoning energy landscape, IPT Energy has invested approximately 40 million AED as first stage investment in the emirate. With plans to ambitiously double this investment to 80 million AED by 2025-26, IPT Energy’s growth trajectory is closely aligned with Invest in Sharjah’s mission to foster innovation and facilitate business development within the emirate. This partnership underscores a shared vision for economic progress and industry leadership in the energy sector.
Invest in Sharjah’s commitment to investor support
HE Mohamed Juma Al Musharrkh, CEO of Invest in Sharjah, commended IPT Energy’s journey and expansion in Sharjah, saying, “The expansion of IPT Energy resonates within Sharjah’s dynamic and diverse business ecosystem showcasing the emirate as a compelling and sustainable hub for energy investments. Invest in Sharjah remains committed to providing comprehensive support to companies that are innovating within their respective industries, contributing to the vibrant economic landscape of the emirate. This milestone, through IPT’s success and expansion, also attests to Sharjah being a globally strategic investment destination.”
Expansion and diversification into renewable energy
Demonstrating a broader transformation from an oil and gas company to an energy company, and in-line with the UAE’s Green Agenda 2030, IPT Energy is actively diversifying into renewable energy. This includes a focus on sustainability, incorporating offerings such as biodiesel and eco-friendly additives by TotalEnergies, as well as exploring opportunities in cleaner fuels, solar energy, EV charging, and other potential areas.
During IPT Energy’s milestone celebration, Aya Issa, Regional Director of Issa Group Holding, owner of IPT Energy, expressed enthusiasm about the company’s regional expansion, starting with the UAE, and specifically Sharjah. She credited ‘Invest in Sharjah’ for providing essential guidance and support, which has been instrumental in IPT’s preparations for its upcoming expansion in the Sharjah Emirate. She also highlighted the company’s broader expansion plans across the UAE and emphasised their commitment to sustainability, noting their efforts to integrate eco-friendly offerings and explore opportunities in renewable energy to diversify its business model.
Maroun Abdel Nour, the General Manager of IPT Energy, stated that ‘IPT Energy Power Trading LLC’ will run the company operations. Meanwhile, ‘IPT Energy Trading’ aims to enhance expansion by acquiring storage facilities.
IPT Energy is looking to expand its footprint further, showcasing a forward-looking approach that underscores the company’s confidence in Sharjah’s role as a thriving business hub. This reflects the company’s vision to achieve success and encourage collaboration within the dynamic framework of Sharjah’s business community.
A journey of growth and innovation
IPT Energy welcomed the Invest in Sharjah team for an official site visit to their facility. The event, themed “A Journey of Growth and Innovation,” brought together key representatives from both entities. Invest in Sharjah’s CEO, HE Mohamed Juma Al Musharrkh, Director of Investment Promotion and Support, Marwan Alichla and Head of Marketing and Public Relations, Latifa Al Ali, were welcomed by the IPT Energy team, including IPT founder Michel Issa, and Executive Chairman of Issa Group Toni Issa, as well as Maroun Abdel Nour, and Aya Issa. The agenda featured a comprehensive tour of the premises, followed by a ceremony, reinforcing the collaborative spirit and shared vision for future joint ventures.
An energy pioneer in the region
Founded in 1970 by Michel Issa in Lebanon, IPT Energy has accumulated extensive expertise in energy services and distribution through their 54 years of operation, choosing the UAE as their central hub for activities outside Lebanon.
IPT Energy LLC specialises in diesel and biodiesel distribution, bunkering, lubricants, and fuel-oil supply services. Operating from a storage facility in Sharjah covering over 4810.5 m2 and housing three storage tanks able to store over 360,000 IG, IPT efficiently manages its own storage and fleet, serving leading corporate clients across the country. As an authorised distributor of TotalEnergies Lubricants in the UAE, IPT maintains a robust partnership with the global conglomerate.
