Chevron expects lube sales to grow by 10%

Chevron (Thailand), the distributor of Caltex Delo lubricants, projects at least a 10% growth in the lubricants market this year due to rising demand for vehicles. Chutintorn Pugkhem, Chevron area business manager, finished lubricant, said auto sales are projected to grow by 9% this year. Demand for automotive engine oils is estimated at 250 million liters per year, of which lubricants for diesel engines account for more than 65%. By 2016, the market for automotive engine oils is expected to exceed 350 million liters annually. (February 26, 2010)