Sinopec Increases Sales in Australia

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Sinopec reported last week that its lubricant sales in Australia were up more than 30 percent through the first nine months of 2019, compared to the same period of 2018.

Since entering the market a decade ago, the Chinese national oil company said it has gone from serving primarily the mining industry to supplying a wider range of products including passenger car engine oils.

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Sinopec is one of the worlds 10 largest lubricant suppliers, and Australia was one of the first markets targeted by China when it began to develop overseas sales. The company said its volumes in Australia have grown steadily, but it did not disclose specific amounts in its Oct. 16 announcement.

To support its sales of Tulux-branded engine oils, Sinopec has sponsored racing teams. It is now working to expand its distribution network, stating that it has thorough coverage in Australias biggest cities but is still expanding elsewhere.

Sinopec said it is also increasing the variety of industrial lubricants that it offers but that mining remains one of its key customer segments in the country. In the press release the company attributed its success in the mining segment to offering a high level of customer service.

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Asia-Pacific    Australia    Business    Earnings    Region