Gulf Oil to launch lubricants for cars

Indian company Gulf Oil Corp. Ltd. said it will launch car lubricants and focus on the tractor segment this financial year. The company’s Lubricants Business President Ravi Chawla said growth in the lubricant market is expected to pick up later in 2009, thus Gulf Oil is optimistic about its prospects. The company has a 6% market share in the local automotive sector and 3% in the domestic industrial segment. (April 12, 2009)