Chinese oil giant, Sinopec, realised 20% growth in sales volume due to demand from other Asian nations.
The world’s fourth largest lubes producer is consolidating its presence overseas in a bid to increase its status as a global lubes player. Cumulative sales rose by 45% year on year, while sales volume in the OEM market increasing by 20%.
ILD, an Australian company distributing Sinopec products, claims a strong marketing campaign, coupled with affordable prices, is tempting a lot of users away from better-known brands. “Sinopec brand image is continuously enhanced in the local area”, said a representative from ILD, “so we are increasingly confident in operating it.”
The Chinese major is also ramping up sponsorship of various global auto events through its wholly owned subsidiary Great Wall Lubricants.
Closer to home, the state-owned company is making headway in Indonesia, Pakistan and other South East Asian nations. According to a recent company press release, one major Pakistani distributor has signed a contract for 1000 tons of Sinopec lubes per year.