SINOPEC#s Lubricant Overseas Market Development Enters A New Journey

General Press Releases Wednesday May 30, 2018 14:10
SINGAPORE--30 May--PRNewswire/InfoQuest

On May 29, the SINOPEC Lubricants International Partner Conferece 2018 was held in Singapore. Organized by SINOPEC, one of the world's largest energy and chemical companies, it was the company's second Asia-Pacific Regional conference. The conference demonstrated the current status of SINOPEC's lubricant business development in the international market in recent years. More than 120 partners from more than 20 countries and regions in the Asia Pacific attended the meeting.

During the conference, all participants were arranged to visit SINOPEC's first overseas blending plant -- Sinopec Lubricant (Singapore) Co., Ltd. By introducing in detail the remarkable achievements of SINOPEC lubricants' brand strength, product technology development, marketing, and the company's future development plan for overseas markets, the visit further enhanced business partners' understanding on SINOPEC lubricant companies' strengths, clarified the company's direction and goals of the next market development, establishing their confidence in continuing to cooperate with SINOPEC to expand the Asia-Pacific market.

Mr. Kou Jianchao, Vice President of SINOPEC Lubricants Co., Ltd., attended the meeting and stated: "This meeting is not only a thank-you to our long-term cooperative partners for many years, but also a staged summary of the international development of SINOPEC's lubricant business in the past five years. It also means a new beginning. This meeting will become a meeting for SINOPEC lubricants and their partners facing the future, enhancing mutual trust, strengthening cooperation, and seeking development. The goals and strategies for future development of SINOPEC lubricants set forth in the meeting will have an important impact on our future business cooperation."

"Since the 'Belt and Road Initiative' was proposed by the Chinese government in 2013, 1,676 Chinese-funded enterprises have begun construction in the Asia-Pacific region. Precisely that year, the construction of SINOPEC Lubricants Co., Ltd.'s Singapore plant was also completed and has commenced operation. In recent years, with the rapid transfer of Asian manufacturing to Southeast Asia and the vigorous development of infrastructure construction in the Asia Pacific region, the demand for lubricants in the Asia-Pacific region has been continuously increasing. The rapid increase in the demand for high-quality lubrication products will inevitably bring huge market opportunities for the business development of SINOPEC lubricants," said Mr. Kou, who always has confidence in the future market development.

As a partner of China Aerospace Science & Technology Corporation (CASC) for 50 years, SINOPEC is one of the few companies in the world that can produce aerospace lubricants. The international quality of SINOPEC lubricants has become China's lubricant with "high-tech, high-quality" image. The brand is China's largest automotive OEM supplier and industrial and mining enterprise lubrication service provider. As China has gradually become the center of global manufacturing, the rapid growth of overseas exports of "Made in China" machinery and equipment has created new opportunities for SINOPEC lubricants to enter the international market. In the past ten years, the overseas lubricants sales volume of SINOPEC has grown from an initial annual sales of 14,000 tons in 2007 to 124,000 tons in 2017, and has achieved a growth of more than 20% for four consecutive years.

At present, the development of SINOPEC's overseas lubricant markets has entered a new stage. SINOPEC Lubricants Co., Ltd. will continue its efforts to promote the transition from "trading" to "marketing", and accelerating the deployment of lubricant production, logistics and sales systems for the internationalization of SINOPEC. According to Mr. Kou, SINOPEC is currently seeking to become a globally competitive transnational energy and chemical company, and SINOPEC lubricants, ranking fourth in the world, will become an important part of its international marketing strategy. SINOPEC will rely on its strong overseas branches to continuously improve its overseas supply network. The laying of outlets will gradually move from Asia to Europe and America, eventually forming a global market for production, logistics and sales.

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Caption: Mr. Kou Jianchao, Vice President of Sinopec Lubricants Company, gives an opening speech.

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