CARBON ENERGY SUMMIT
Shell remains the leading global supplier of finished lubricants for 13 consecutive years, according to Kline & Company’s “17th Edition Global Lubricants Industry: Market Analysis and Assessment: 2019 report,” F+L Daily reports.
Using 2018 as the base year, the report covers all leading lubricant consuming country markets, market segments, product types, and formulations.
Shell’s growth strategy for lubricants is working. Our balanced portfolio of market-leading products and growing digital services are enabling us to build business across all market segments and demonstrate the resiliency of our business in an increasingly dynamic global lubricants market.Huibert Vigeveno, executive vice president, Shell Global Commercial
Huibert Vigeveno said that Shell has been focusing on what customers need and adapting offers accordingly, “which is resulting in material earnings growth and contributing resilient free cash flow to the Shell Group.”
According to the report, Shell grew its leading global market share in 2018 relative to the previous year, while other international oil company (IOC) competitors saw declines. Shell’s total volumes sold were approximately 4,500 kilotonnes of finished lubricants, equivalent to nearly 5 billion liters. These sales were split almost evenly between three segments: consumer automotive (30%), industrial (36%), and commercial automotive (34%).
Shell has launched Shell E-Fluids that are specifically designed for the growing electric vehicle market. Earlier this year, Shell also announced MachineMax, which is a new digital service for industrial customers that helps optimize the operation of machinery.