It was established as a joint venture between Saudi Aramco and Mobil investments and started production at its first blending plant in Jeddah, in 1970.

The company has since been re-certified in 2014 and received the OHSAS 18001:2007 certification for their Health and Safety Management Systems at the Jeddah plant in 2017.

[9][10][11] It was established to be the statist oil development of Saudi Arabia because at that time Aramco was 100% American owned.

[17][18] In 2013, The Dabbagh group purchased the Hinduja stake based on a total valuation of more than $700 million, made by Deutsche Bank, who assisted in the deal.

[16][23] The company currently distributes its products to over 35 countries across the world, with a focus in the GCC, Middle East, Africa and Asia.

In 2016, Petromin further expanded its operations into vehicle distribution by acquiring the Nissan brand dealership in Saudi Arabia.

[31][32][33] They have expanded their operations to several countries in the region including, UAE, Egypt, India, Malaysia and Pakistan.

Recent expansions include joint ventures with major companies like HPCL, DRB HICOM Malaysia, and acquisition of SpareIt.

The plant works in cooperation with the drum manufacturing company Greif, Inc., allowing a direct filling of Petromins products.

Petromin entered a partnership with Nissan in 2016, becoming the official authorized distribution dealer in Saudi Arabia.

Subsequently, they inaugurated a mega-facility designed to encompass sales, servicing, and provision of spare parts (3S).

[41][42] PepsiCo and National Transportations Solutions Company (NTSC) signed an MoU and launched the first Electric Commercial delivery truck pilot in Saudi Arabia.

[45] National Auto Parts Company (NAP), acquired SpareIt, an Indian auto-tech platform.

[32] The partnership initially involved the distribution of Quantron's QARGO 4 EV light truck in Saudi Arabia.

Siemens also provided EV chargers to Electromin, Saudi Arabia's e-mobility unit, for their region-wide charging network.

As part of this partnership, they sponsored the WTCR FIA World Touring Car Cup debut at Jeddah Corniche Circuit in, December 2022.