In a bid to tap into lucrative foreign markets a Chinese major is developing more environmentally friendly products.
Sinopec Corp has been increasing its efforts to gain a foothold in developed markets through its wholly owned subsidiary, Great Wall Lubricants Co, which will now be able to sell rubber processing oil and hydraulic fluid overseas.
Sinopec’s 55B and 90B rubber processing oils have successfully met the European REACH Regulations, and were awarded an environmental certification that will allow it to sell in the developed EU market.
Meanwhile, Great Wall environmentally friendly hydraulic oil has been awarded the sought after EU Ecolabel; certification it will need to compete with the US for the lion’s share of the global bunker oils market.
The accreditations are a sign that Chinese oil and lubricants companies are seriously investing in more eco-friendly and technologically advanced products. Such products will give Chinese companies the edge in a rapidly changing home market and increase the scope of international opportunities and adds to the evidence that domestic producers are gaining ground on their overseas rivals.