Chevron will exit the lubricants market in India next month, the company confirmed in a statement provided to Lube Report yesterday. An industry consultant cited the intense competition in Indias market as a likely factor in the decision.
The decision was taken following a review of our business for sustainable growth and is aligned with Chevrons global strategy of portfolio optimization, the company said. Chevron sees India as having strategic importance in the world energy market and will continue to monitor the market for longer term potential. Chevron maintains a presence in India through its additives joint venture, aviation fuels and technology licensing businesses.”