Chinese oil giant, Sinopec, has launched its lubricant brand in Kenya, making a foray into the fast-growing segment of the country’s market. Sinopec, the Fortune 500 government owned Corporation, is an integrated energy and chemical company with upstream, midstream and downstream operations.
It is a publicly listed company in Hong Kong, New York, London and Shanghai Stock Exchanges. Sinopec Lubricant Company is a subsidiary directly affiliated to Sinopec. It is a professional company engaged in operation of all Sinopec’s lubricant businesses.
The firm’s entry into the Kenyan lubricant market with eyes fixed on the larger East African market is expected to bring stiff competition to the doorsteps of other established multinationals like Total, Ola Energy and Shell.
Speaking at the launch which was witnessed by Kenya’s energy officials, Sinopec’s Deputy General Manager of Safety Production and Quality Control wang zhi guo said the firm was happy to establish in the fastest growing market.
”The African Automotive Lubricants market is seeing increasing demand as vehicle purchases across the region continues to increase. Though the regional market only makes up six per cent of the global market, it is forecast to grow rapidly over the forecast period to 2029,” said guo.
The firm has previously partnered with German luxury automaker Mercedes-Benz AG through Sinopec’s lubricant as its global lubricant supplier.