10th March 2011,, www.dailynews.lk
Nawaloka ABC Petroleum, a member of Nawaloka Holdings, has entered the lubricant market with ‘Total’ Oil, the French multinational oil company presently operating in over 130 countries. ‘Total’, a Fortune 500 company with an annual revenue exceeding 150 billion Euros, engages in all aspects of the Petroleum Industry, such as oil and gas exploration, development and production, *LNG, refining, trading, as well as the shipping and transport of crude oil and petroleum products.
Nawaloka ABC Petroleum Chairman Jayantha Dharmadasa said as part of its diversification strategy, the Nawaloka Group had identified an opportunity in the local lubricant market for a superior range of lubricants, offering the consumer value for money; hence the partnership with ‘Total’.
“The total value of the local lubricant market is approximately Rs 11 billion and it is now a growing market though it was stagnant for a while”, Dharmadasa said.
‘Total’ is ranked as the fourth largest oil and gas company in the world with an oil and gas production capacity of 2.6 million.
‘Total’ is the No.1 refiner in Europe with a capacity of 2.7 million barrels per day, while the volume of refined products sold is 3.8 million barrels per day.
‘Total’ has a complete range of lubricants covering all segments of Automotive and Industrial applications and Nawaloka ABC Petroleum is confident that the local consumer will appreciate the benefits of a world class lubricant.
“‘Total’ products are manufactured to exceed the most stringent quality and environmental standards presently demanded by law in most western countries, as well as the environment conscious motorist”, Nawaloka ABC Petroleum General Manager Sanjay Benjamin said.
“Our target market is the quality conscious motorist with a sense of social responsibility who wishes to contribute towards protecting the environment” he said.
Nawaloka ABC Petroleum commenced operations in the local market in the Western Province and have now spread to the Central and Eastern provinces, as well as parts of the Sabaragamuwa province.
“It is our intention to cover the rest of the island shortly, providing the local consumer with the ‘right choice in lubricants’ that are both high performance and cost effective” Benjamin said.