Loading ...Romania's market for lubricants is worth some 300 million euros, according to Petrom officials. These figures show the market has almost doubled since 2004.
Petrom, Romania's largest oil company, estimates it will have an 18-percent market share by the end of the year, from a current 15 percent, on sales in petrol stations alone. The company on October 16 released a new range of engine lubricants meant to replace the current brand, RO 3.
The new lubricants are initially to be traded in Romania only, and later exported to other markets where Petrom operates petrol stations, such as Bulgaria, the company's first target, daily Business Standard reports on October 17.
The oil giant, owned by Austrian OMV Group, aims to increase its sales of lubricants by 15 percent year-on-year in 2008. "The sales of lubricants are currently accounting for 0.2 percent of fuel sales," says Petrom Retail Division Manager Petar Velichkov. Sales of lubricants are currently dropping because new cars and engines on the market consume fewer lubricants, says Petrom Commercial Division Manager Tivadar Runtag.
According to Petrom officials, some 160,000 tonnes of lubricants are sold annually in Romania, half of which are for vehicles, with the remaining being for industrial consumption.
The main local market players are Petrom, OMV, LUKOIL, Lubrifin and MOL.
The main local market players are Petrom, OMV, LUKOIL, Lubrifin and MOL.
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