The oil went missing from storage tanks at Craigantlet Quarry, with staff discovering it was gone early on Thursday morning, July 26.
Councillor Andrew Muir said: “I completely condemn this despicable act.
“A large vehicle would have been required to carry out this theft and I am appealing for anyone who was travelling in the area early this morning and may have seen something to come forward immediately.
“Local businesses have enough problems in the current economic climate without having to deal with this type of behavior from within their own community. It is even more worrying that this is the second time in a week that oil has been stolen from a business in the area.
“There is no place in our society for those who would steal from hard working people. I am appalled that two local businesses have now lost large quantities of oil and call on the community to work with the police to ensure no more thefts take place.”
Anyone withinformation is asked to contact Ards CID on 0845 600 8000 or Crimestoppers on0800 555 111.