Petronas eyes 5% market share in India

 Petronas Lubricants India, the arm of Malaysian oil major Petronas, is eyeing a five per cent market share in India, according to its chief executive officer MP Singh.

“Our current market share in the Indian lubricant market is around 1.5 per cent. We plan to increase this share to around five per cent by 2019,” MP Singh said.

Our upcoming plant at Patalganga in Navi Mumbai will give us the technology as well as cost advantage to help us achieve the target, Singh added. The lubricant market in India is estimated to be around Rs 40,000 crore. Petronas Lubricants India had announced last month that it will invest $60 million to set up a 110 million litres lubes plant at Patalganga. The plant is likely to be commissioned by the last quarter of 2017.

Asked on whether Petronas Lubricants India will look at exports from the upcoming unit, Singh said that the company is open to that option as well. “If the commercials help, we can look at exporting to global markets from the plant,” Singh said.

Meanwhile, Petronas Lubricants India, in association with Tata Motors, has launched the Tata Motors Genuine Oil (TMGO) for its passenger vehicles range in the India market. TMGO will be the first range of co-branded lubricants jointly developed by the companies.

The co-branded range of lubricants – Tata Motors Genuine Oil CH-4 15W-40 for diesel vehicles and Tata Motors Genuine Gear Oil 80EP for passenger cars – makes part of a bigger range of nine co-branded products that will be rolled out in a phased approach.