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Chevron Corp, Hindustan Petroleum enters into 10-year agreement for lubricants

Thursday, 26 Oct 2023
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Chevron Brands International, a subsidiary of Chevron Corporation, and Hindustan Petroleum Corporation (HPCL) have entered into a 10-year long-term agreement to licence, produce, distribute, and market Chevron’s lubricant products under the Caltex brand.

The companies officially launched the Caltex brand in the Indian market on 25 October, 2023. HPCL’s manufacturing facility at Silvassa will manufacture Caltex lubricants. The plant has the capacity to produce 75 TKLPA of lubricating oils.

US-based company sees India as a strategic growth market and from a lubricants perspective, the growth in terms of industrial and commercial vehicles. Chevron is a global marketer of finished lubricants with 10 facilities and 25 blending plants around the world. Through this agreement, Chevron’s proprietary Havoline and Delo-branded lubes will be sold in Indian markets.

Along with HPCL, the company will identify and launch new products in the market. Presently, Caltex supplies lubes for personal as well as commercial vehicles and industrial machinery. The companies would also be launching appropriate products for the EV industry going forward.

With this partnership, HPCL will be able to cater to the entire spectrum of needs of the customer. HPCL is in the process of carving out a separate subsidiary for its lubes business and is exploring further options of demerging. HPCL Middle East FZCO (HMEF), a wholly-owned subsidiary of HPCL, markets lubricants and other petroleum products across various markets in the Middle East and Africa.

Chevron Corporation, a largest oil company, is re-entering the Indian lubricants market after 12 years. It has a partnership model in different parts of the world such as in South Africa and in parts of Europe, in Turkey, and in South America.

 

 
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